LI's economic expansion continues to fuel demand for office space.Robust leasing due to corporate expansions and relocations contributed to the diminishing di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. supply of office space, resulting in single digit A single character in a numbering system. In decimal, digits are 0 through 9. In binary, digits are 0 and 1. digit - An employee of Digital Equipment Corporation. See also VAX, VMS, PDP-10, TOPS-10, DEChead, double DECkers, field circus. vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. rates for Long Island, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Research Services Group of Cushman Cushman is a manufacturer of industrial vehicles, personal vehicles, and other custom vehicles, including parking patrol auto rickshaws. Models Haulster (Small industrial multi-purpose truck) Bellhop Series (Golf Carts) Tug(Large Truck) & Wakefield of Long Island, which has issued its year-end report. "This is the tightest office market ever recorded for Long Island," confirmed Donald P. Eisen, Cushman & Wakefield's executive managing director for the New. York York, former name of Toronto, Canada York, Ont.: see Toronto, Ont., Canada. York, city, England York, city (1991 pop. 123,126) and district, North Yorkshire, N England, at the confluence of the Ouse and Foss rivers. area. "The overall vacancy rate rested at 9.5 percent versus 10.6 percent at year end 1997. This activity drove the average asking rental rate to $25.19 per square foot." Leasing activity on Long Island totaled more than 2.8 million square feet at year end, while net absorption totaled 462,701 square feet, primarily due to strong Class A leasing activity. In fact, the Class A market had less than a million square feet of available space, which translates into a 6.7 percent vacancy rate, 3 percent below that of one year ago. In addition, the average asking rental rate for Class A space rose to $27.35 per square foot, a $1.07 increase over year-end 1997. The Class B market continued to be impacted by the availability of several significant blocks of space vacated due to industry mergers. While the Class B overall vacancy rate rose to 12 percent, a 0.5 percent increase since last year, asking rental rates increased by $1.27 per square foot, resting at $23.95 per square foot. "The market's strength also resulted in ground-breakings for several significant speculative construction projects during the fourth quarter which total 250,000 square feet," Eisen added. "Confidence in the marketplace is truly evident, as some developers funded their own projects, while others were able to attain credit in a tight equity market. The office market outlook for 1999 remains strong, with the anticipated continuation of record low vacancies. As we approach the new millennium, new construction projects will boost inventory levels, increasing vacancy rates and ultimately stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. supply and demand." |
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