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Brooklyn, Queens industrial reports.

Activity levels in industrial property in Brooklyn and Queens have improved over their worst levels of the last few years but the overall availability rate is rising because more new properties are being put on the market, according to the Greiner-Maltz Company, Inc. report for the first quarter of 1993.

In Brooklyn, 44 transactions involving about 744,000 square feet of space were completed in this quarter, compared to 21 deals and 293,000 square feet a year ago and 44 transactions involving 502,000 square feet the last quarter. However, the availability rate is up to 13.45 percent from 12.91 percent last quarter because a significant amount of new listings were added.

In Queens, 108 sales and leases involving over 1,318,000 square feet were completed in the first quarter of 1993, compared to 62 deals and 834,000 square feet a year ago and 98 deals and 953,000 square feet last quarter. The availability rate has increased to 13.10 percent from 12.833 percent in the last quarter for the same reason.
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Title Annotation:Greiner-Maltz Company Inc. reports on leasing activity of industrial properties in New York, New York
Publication:Real Estate Weekly
Date:May 12, 1993
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