Midtown office vacancies inch up 

CB Richard Ellis reported in its May Midtown office survey that the submarket’s vacancy rate was 4.8 percent, up .1 percent from April. April’s leasing activity was 1.38 million square feet, 18 percent less than the five-year monthly average. Pricing in most areas was stable, except for the Plaza district’s asking rent, which jumped $3.59 to $119.14 per square foot. Midtown’s overall asking rent increased a mere $0.17 last month. TRD

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