Search
 

Small and Slow

PHILADELPHIA-The growth through the end of the second quarter is marked by smaller tenants making moves, according to Jones Lang LaSalle.

By Ryan Clark | Updated on July 05, 2011

PHILADELPHIA-Good news is on the horizon for the City of Brotherly Love. The lease market is growing, albeit incrementally. There is not too much to be carried away with, however, as much of the growth is being led by smaller firms which are doing more rearranging of space than any massive corporate expansions, which traditionally put larger progressive dents in the vacancy rates.

“This is the third quarter that we’ve tracked positive absorption,” explains Jones Lang LaSalle’s vice president, brokerage operations, here, Jennifer Lamprect. “The fourth quarter of 2010 was our first quarter of positive absorption in a number of years and the positive trend has continued.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.