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Brooklyn/Queens industrial shows signs of stability.

The latest quarterly Greiner-Maltz Company, Inc., Brooklyn/Queens Industrial Real Estate Report shows an overall stability in the market, which when analyzed in relation to specific factors such as absorption and the number of new listings, indicates that it may be time for industrial real estate to bounce off the bottom and head in the right direction, according to Richard Maltz.

Maltz heads the Long Island City office of the firm that specializes in industrial and commercial property in Queens, Brooklyn, Nassau and Suffolk.

In Brooklyn, 45 deals involving smaller spaces (less than 20,000 square feet) were completed -- the most in any quarter in the past two years. And vacancies in this market segment dropped for the first time in more than a year.

In Queens, more than 1,125,000 square feet of transactions were completed. marking the fourth time in the last five quarters that activity topped the million-square-foot level, while prior to that, transactions in eight of the previous nine quarters had fallen below the million square-foot mark.

As the activity levels of the smaller spaces, especially in Brooklyn, indicate, there are opportunities for those who seek them out and are able to take advantage of circumstances. And as "the bottom" becomes more clearly defined, activity will increase even further, and the larger space users, which take longer to react, should start to jump into the fray.
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Title Annotation:Greiner-Maltz Company Inc. Brooklyn/Queens Industrial Real Estate Report for second quarter of 1993
Publication:Real Estate Weekly
Date:Aug 4, 1993
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