Office rents expected to flatline next year

By David M. Levitt
Dec. 8 (Bloomberg) -- Manhattan office rents may rise as
much as 10 percent next year as global growth accelerates, the
chief economist of Colliers International’s New York regional
office said.
“Cash balances and corporate liquidity are almost at an
all-time high,” Peter Kozel said today at a press briefing in
Manhattan. “That’s enormous potential energy just waiting to be
released. And New York City is enormously tied into the global
economy.”
Kozel and other Colliers executives said office
availability will decline and rents will rise as New York
rebounds from the credit crisis that began in 2008. With
emerging markets growing, foreign firms are increasingly looking
at New York as a base from which to boost their U.S. market
share, Kozel said.

yeah, I hear Lead 4 You, chinese toy manufacturer is looking for space in LIC... apparently, their lead is cleaner than what is already in the land, so net net, they say they are cleaning up LIC.