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‘Land banking’ trendy again

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Available office space in Midtown is scarce and fetching a premium, leading some companies to engage in “land banking,” or signing long-term leases for more office space than they need. The practice has not been common since the dot-com boom, which worries some industry experts. “After the last time I saw this, in 2000 and 2001, there was a bust in the market,” said Mitchell Konsker, an executive vice president at Cushman & Wakefield. more [NYT]

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