
From left: Midtown Manhattan and Mary Ann Tighe, CEO of tri-state region for CBRE
Manhattan office leasing finished 2011 with gradual but steady improvement in asking rents, according to data released today by CBRE.
The exception is Midtown South, where the “glow of Google,” as Mary Ann Tighe, CEO of the tri-state region for CBRE, called it, pushed 2011 absorption to 2.19 million square feet — the highest for that market since 1997. In Midtown South, the overall availability rate fell to 8.8 percent in December, down slightly from November, the largest monthly drop since 2005, according to the figures presented by CBRE at its fourth-quarter media breakfast this morning. [more]







