Grade A office take-up pluges in June

Business | 17 Jul 2019 5:33 pm

The Grade A office market recorded negative net absorption of 139,500 square feet in June with new lettings down by 63 percent month-on-month, according to a report by Jones Lang LaSalle.

Rents in the overall market declined by 0.3 percent month-on-month in June as an uncertain outlook on leasing demand led to some landlords to cut rents to accelerate the backfilling of space vacated by decentralizing tenants.

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