Rent growth slows down in sluggish U.S. office market
WASHINGTON, Oct. 4 (Xinhua) -- The pace of rent growth in U.S. office buildings slowed in the third quarter, and leasing was sluggish as companies tapped the brakes on expansion due to credit-market turmoil and uncertainty about the economy's direction, The Wall Street Journal reported Thursday.
Although rent growth remained healthy in the third quarter, up 2.4 percent to 24.17 U.S. dollars per square foot from 23.61 dollars in the second quarter, it was off the pace set in the first six months of the year, when rents grew an average 3 percent per quarter.
The report was quoting a survey of 79 of the top U.S. office markets by Reis Inc., a New York-based commercial real-estate research firm.
That, combined with sluggish growth in office-based employment over the last several months, raises concern about the direction of the market at a critical time for real-estate investors, though it is too early to tell if it is a one-quarter blip or something worse, says Sam Chandan, chief economist for Reis.
For now, the three-and-a-half year old office recovery is still under way, if showing signs of weakness.
The vacancy rate hit its lowest level in six years, dropping to12.5 percent in the third quarter from 12.7 percent in the second quarter, though the pace of absorption -- the change in the total amount of space leased nationwide -- slowed.
Absorption totaled 14.8 million square feet in the third quarter compared to 17.3 million in the second.
"There is a slowdown," said Barry M. Gosin, chief executive of Newmark Knight Frank, a New York-based commercial real-estate service firm. "Any major financial institution is not in a hurry to rent space right at the moment."
猜你喜欢
-
- 04-08狙击英语完型:6种方法+8大技巧应对8大考点
- 04-08Report: U.S. expands efforts to use armed Iraqi residents as local protection forces
- 04-08Death toll rises to 32 in Argentine jail riot(1)
- 04-08英语专业四级考试阅读长难句翻译解析26
- 04-08新托福考试独立写作常考题目归纳:政府投资类
- 03-082016考研复习指导:英语阅读之管理学类(4)
- 03-082018考研英语二大纲预测:整体趋于简单化
- 04-08考研英语时文赏读(50):全球首例从已故捐赠者子宫中诞生的婴儿
- 09-30考研英语单词是背单词书好呢还是直接从真题中背呢?
- 04-08blade的解释含义及用法例句