BY ROBERT SAMMONS

The overall Downtown vacancy rate—as it stands today, right now, this very moment—is 10.3 percent. If one were to take that 10.3 percent (FYI: it topped 20 percent in the mid-1990s and 15 percent in the early 2000s), the judgment would likely be that Downtown is back and better than ever, given the more vibrant nature of its existence (more housing, retail, cultural venues, much-improved transportation, etc.). But there is one humongous reality to face, and that would be some seriously large empty office space about to slide into the vacancy rate figure. This is not exactly a surprise, as much of it has been advertised for months now. By our calculation, there are 21 buildings with at least 100,000 square feet of current or future availability being marketed.

To read full story, click here.

BY JOTHAM SEDERSTROM

Recently it was announced that XL Insurance, a tenant on the third floor of the World Financial Center, otherwise known as 200 Liberty Street, would vacate its space in order to expand onto the 25th floor of the building.

This shift made it possible for executives at Brookfield Office Properties to link the fourth and fifth floors with the ground floor and the terrace.

John Wheeler, a managing director at Jones Lang LaSalle, and David Cheikin, a vice president of leasing at Brookfield, reviewed available space on the third, fourth and fifth floors of the building with The Commercial Observer and explained what, exactly, potential tenants can expect in moving into the lower Manhattan property.

To read full story, click here.

BY JOTHAM SEDERSTROM

Over the course of the next three years, lower Manhattan will experience a leasing anomaly: as new and more-efficient office space hits the market, supply and rental rates are expected to escalate simultaneously.

For real estate analysts, who have estimated that vacancy rates could skyrocket to as high as 17.5 percent by 2015, the prospect of more product is exciting, if a bit unnerving.

As for right now, Ken McCarthy, a senior economist at Cushman & Wakefield, reviewed lower Manhattan’s third-quarter stats with The Commercial Observerand discussed which data points could affect the short-term health of the market that Silverstein Properties’ 1 World Trade Center and Brookfield Properties’ World Financial Center both call home.

To read full story, click here.