With one million sf of sublease product available, property owners are offering concessions and competing fiercely for creditworthy tenants but aren't typing up leases for lengthy terms at current bargain rates.
"These market conditions will continue to give tenants an advantage in negotiating lease terms throughout 2002," Jeffrey S. Sweeney, G&E's executive vice president/managing director, tells GlobeSt.com.
The economy is expected to balance out in the first half of this year and then resume a slow growth for the balance of the year.
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