Pursuits
Manhattan Office Leasing Reaches 11-Year High, Cushman Says
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Manhattan office leasing climbed 16 percent last year as tenants agreed to occupy the most space in more than a decade, Cushman & Wakefield Inc. said.
A total of 30.1 million square feet (2.8 million square meters) of new leases were signed in 2011, the New York-based brokerage said in a statement today. That was the most since the 31.5 million square feet of deals reached in 2000, according to Cushman. The vacancy rate fell to 9.1 percent from 10.5 percent at the end of 2010.