By the numbers, the Twin Cities office leasing market appears headed into a slump.
Vacancy rates are going up in office towers for the first time since the economic recovery started. Absorption, or the rate at which rentable office space is leased, is predicted to remain relatively flat.
But at the same time, tenants have started to sign longer leases. And rising rental rates have led some building owners to revamp their spaces as they compete for tenants. To several local real estate experts, those are signs enough that the office leasing market is…Read More>>>