Office Owners Seen Gaining Edge Over in More U.S. Cities
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Office landlords will gain leverage to raise rents in all but one of 43 large U.S. cities by 2016 as rising demand for space in an improving economy combines with tight supplies, Jones Lang LaSalle Inc. said today.
Markets including Washington, Baltimore, Miami and downtown Los Angeles will no longer be “tenant friendly” in two years as vacancy rates decline, leaving Newark, New Jersey, as the sole city that favors office occupants by 2016, the Chicago-based brokerage said in its “United States Skyline Review.”