The U.S. office market showed signs of weakening with rent growth slowing and vacancies increasing slightly in the second quarter, the Journal says on A2.
Some suburban office buildings are suffering from increased gas prices, as companies shift away from locating in places that require employees to drive long distances. In New York’s Long Island, rents declined 0.3% last quarter. One owner there, Metropolitan Realty Associates, is passing out free gas cards to commercial brokers as an incentive for showing tenants its blocks of empty space.
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