Boston Globe (February 2)
“More than 10 months into a pandemic that has all but emptied downtown towers, the long-term future of offices in Boston remains unclear. Vacancy rates downtown are the highest they’ve been in a decade. There’s more than 3.5 million square feet available for sublease from companies holding long-term leases on space they’ve decided they no longer need. Rents, after climbing steadily for years, are starting to fall.”
Tags: Boston, Companies, Downtown, Emptied, Future, Leases, Long term, Offices, Pandemic, Rents, Sublease, Towers, Vacancy
Bloomberg (January 12, 2012)
In Tokyo, “rents are now at the lowest since Miki Shoji started compiling data in 1990.”
Office rent fell 3.7% in 2011 from 2010. Simultaneously, the Capital’s vacancy rate climbed to 9.01% from 8.91%. With new office space set to increase by 12% in 2012, the vacancy rate is expected to remain high, with continued flexibility on rents.
Tags: Miki Shoji, Office, Rent, Tokyo, Vacancy