Commercial real estate vacancies surge above 12% in Manhattan
Posted by: admin in Industry NewsFiled under: Industry, Economic data, Housing, Recession
This is not an abstraction: buildings large and small are showing gaping vacancies. Storefronts are empty. Entire buildings sit waiting to be occupied. In Manhattan, retail vacancies have reached their highest rates since 2001. For the second quarter of this year, vacancies hit the absurd height of 12.4%, thanks to unemployment trends that won’t quit and consumers reluctant to pry open their wallets.
Retailers are being hit just like the residential market.
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Commercial real estate vacancies surge above 12% in Manhattan originally appeared on BloggingStocks on Fri, 17 Jul 2009 13:40:00 EST. Please see our terms for use of feeds.
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