GlobeSt.com: How does 2004 look in terms of revenue growth vis a vis market performance?
Sweeney: We'll do a little better than we did in 2003, but real estate markets being what they are, we're projecting minimal revenue growth in '04. We do anticipate that the markets will start to recover a bit toward the latter part of the year. It's tough to project when things will turn because so much of the office business is pure reaction to general economic conditions. Right now, though, the overall psychology seems positive and job growth, while still anemic, is positive too. More tenants are looking at longer-term planning options, which is very positive. But how those things will converge to create a stronger marketplace and increased levels of leasing and net absorption remains to be seen.
GlobeSt.com: It's a critical question, given that the local market is at 16% vacancy.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
