Report | Long Island Office Insight - Q1 2016
Rate pressure remains in place so far in 2016 across the tightening Long Island Class A market. Direct rents climbed past $30 per square foot during Q1.
Western Nassau itself posted 263,442 square feet of positive net absorption, accounting for more than half of the entire market’s absorption.
Long Island’s future may depend on attracting a younger workforce and retaining jobs. Nassau County now sports the lowest unemployment rate in the state at 4.2 percent. That’s a 70 basis points drop from last year.
Learn more about what’s happening right now in Long Island—and what we can expect over the next couple months—by downloading our Q1 2016 US Office Insight.
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