Office tenants losing leverage over landlords

If you rent space in an office building and want to move, you’d better act sooner than later.

That’s the advice of office experts who see declining vacancy rates over the next two or three years and very little new construction.

“2012 will not be the year when most landlords gain the upper hand in lease negotiations,” said research analyst Joel Warsh in his 2012 forecast from the Grubb & Ellis’ local commercial brokerage office. “Tenants, however, will see some of their leverage slip as vacancy decreases to an overall figure marginally less than 17 percent.”

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