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Survey: activity up in Brooklyn and Queens.

Important statistical measuring sticks indicate that things are heading in a positive direction in the industrial real estate market in Brooklyn and Queens, according to the latest figures from the Greiner-Maltz quarterly reports.

"While the numbers are encouraging in terms of pattern and direction,'' said Greiner-Maltz principal Richard Maltz, "they are nowhere near the ranges that would be cause for celebration. Our job as market makers is to continue to make things happen. "

Highlighting the report is the amount of sales and leasing activity for the quarter in both boroughs: Transactions in Brooklyn involved more space than any quarter since at least 1988. And in Queens it was the first time in at least four years in which activity topped the million-square-foot mark in back-to-back quarters.

Space availability, as a percentage of the total inventory space in the market area, continued to fall: In Brooklyn, the figure of 13.24 percent represents the lowest percentage of space available in the last two and a half years. In Queens, the drop between quarters from the last survey to this one is greater than any two quarters since the beginning of 1990.
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Title Annotation:Greiner-Maltz quarterly reports show increased activity in industrial real estate market in New York, New York
Publication:Real Estate Weekly
Date:Oct 21, 1992
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