OK, folks, looks like the tenant has more negotiating power in August vs. July. There are VERY FEW MAJOR DEALS getting done. CB Richard Ellis stock plunged on the 2008 sales volume news and Jones Lang along with Grubb&Ellis followed suit. Its all 100,000 sf and under deals getting done. A very hot area is 10,000-50,000 sf for some reason. We are talking warehouses...as far as office space ....one by one sublet space is coming up in bldgs.. as large companies cut back and those cheap sublets really do effect the psychology of the landlord's asking rent direct. The closing sale prices have FROZEN up, nothing new coming on the market and NO price reductions.
Surf's up
Chris
Thursday, August 7, 2008
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