Long Island office market tightens

It’s often said that if Manhattan’s office market gets any tighter, surrounding areas like northern New Jersey and Long Island could benefit. But there’s not all that much space left on Long Island for companies to relocate into. Office vacancies there fell during the second quarter of 2006 to 10.7 percent, as asking rents increased to $26.45 a square foot on average. more [GlobeSt]