Lower Manhattan had the highest annual growth in office occupancy costs among 134 markets surveyed in a new report. Lower Manhattan’s occupancy costs have increased 63 percent, according to the report issued by Staubach Company and its London-based partner.
The report defined occupancy costs as a combination of rent, maintenance fees and taxes, excluding leasing incentives. Success spirited lower Manhattan to the costly top, The Wall Street Journal reports:
– Tom Acitelli