The Real Deal New York

Office leasing lows

Activity drops 30 percent, but pros have high hopes for 2013

January 02, 2013 04:30PM
By Adam Pincus

  • Print

From the January issue: Despite a small flurry of deals last month, 2012 was one of the slowest years in recent memory for office leasing. Total leasing volume for 2012 fell to roughly 26.8 million square feet, a 33 percent drop from 40.7 million in 2011, preliminary figures from commercial firm Cassidy Turley showed. That drop-off, experts say, was due largely to big companies’ concerns about committing to space during these uncertain political and economic times (see related story: The office slump). But this year may be a different story. [more]