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Article: Daily News, New York, Real Estate Column.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 10, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Lore Croghan, Daily News, New York Knight Ridder/Tribune Business News
Dec. 10--THE SHADOW KNOWS: The Manhattan office market is even softer than brokerage stats indicate -- because of shadow space.
There's about 9 million square feet of so-called shadow space, Robert Sammons of Colliers ABR calculates.
That's enough to add two percentage points to Manhattan's vacancy rate of 12.5 percent.
Shadow space is unused space that tenants want to shed quietly or space that's expected to empty out several months from now, when tenants carry out planned moves.
Investment banks including J.P. Morgan Chase and Deutsche Bank are ...
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...By Phyllis Furman, Daily News, New York Knight Ridder/Tribune Business ... nydailynews.com To see more of the Daily News, or to subscribe to the newspaper ... NYDailyNews.com. (c) 2004, Daily News, New York. Distributed by Knight Ridder ...
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