Long Island’s commercial market was strong in the first quarter of 2007, according to a report from Sutton & Edwards Inc./TCN Worldwide. Although the overall Long Island office vacancy rate and average asking rents rose slightly over the end of last year, Nassau and Suffolk both posted significant declines in Class A vacancy rates and rents. The counties saw the quarter-to-quarter vacancy rate decrease from 8.8 percent to 8.1 percent. The counties are benefiting from New York City’s strong commercial market, with more firms looking for cheaper space outside of the city, according to analysts. more [GlobeSt]
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Strong office markets on LI
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