US office rents are low, CBRE survey finds.Despite rising rents in many major metropolitan areas, prime U.S. office markets remain a good value when compared with international cities, 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. a recent survey conducted by CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. . The firm's semi-annual Global Market Rents study found only four U.S. cities ranked in the world's 50 priciest office districts: midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Manhattan (#27), Washington, D.C. (#37), Boston (#45) and Stamford, Conn. (#49). The survey also underscored the continuing recovery of U.S. office markets. More than half of the 58 markets surveyed recorded higher rents at mid-year 2005 than at the end of 2004, indicating that the recovery cycle has reached an inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. in terms of pricing in many office districts. "From an occupancy cost Occupancy costs are the whole life costs of buildings and their associated land from occupancy until disposal. These costs may be incurred on a regular or irregular basis. Occupancy costs are those costs related to occupying a space including; rent, real estate taxes, personal perspective, the U.S. remains a great place to do business," said Ward Caswell, CB Richard Ellis' director of information management. "While U.S. rents are rising, they aren't rising at the same rate as they are internationally, even when accounting for the recent appreciation of the dollar against foreign currencies." |
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