Monday, October 18, 2010
The next crash? foreclosures? effect on UK?
Commercial building vacancies climbed and rents went down â€” again â€” in the third quarter as Southern California's white-collar companies reduced the size of their offices. Overall vacancy was nearly 20%, up significantly from 17.5% in the third quarter a year earlier, according to statistics compiled by real estate brokerage Cushman & Wakefield. The average asking rent was $2.35 a square foot a month, 13 cents less than in the July-September quarter of 2009. "Vacancies are at their highest in 15 years,"