According to reports from Grubb & Ellis, Cushman & Wakefield and CB Richard Ellis, the San Diego commercial property market has suffered in the first quarter of 2009.

Reports from all three firms predict that the market will continue to soften this year and continue to do so until as late as 2010.

All firms report a high rate of negative absorbtion and vacany in office space for rent in the area.

As office space rents fall and vacancy rates rise in New York, landlords are finding more ways of tempting commercial tenants in.

The new trend amongst New York commercial landlords is ‘prebuilding’, where office space is finished or rennovated before tenants are found in an effort to make the space more appealing.

The Seagram Building on Park Avenue, for example, is owned by RFR Holding.

When five small offices in the building became vacant, RFR Holding gutted the space and redesigned it from scratch to try to attract new tenants.

The latest report from commercial real estate broker Colliers International demonstrates that the office space rental market in San Joaquin County is in decline.

Office vacancies have risen from 18.6 % in December 2008 to 19% in Q1 of 2009.

Businesses looking to expand are taking advantage of the lower rents in the county.

As the economic downturn grows worse, Charleston Metro Chamber of Commerce has put plans to build permanent headquarters on hold.

The Chamber instead has moved to find office space for rent.

The Chamber’s current lease is due to expire in February 2011.

Commercial and office space for rent in Aspen is becoming increasingly available according to tenatns and brokers in the area.

Vacancies are on the rise as businesses close or scale down.

Landlords, however, have yet to begin significantly lowering rents in the traditionally extravagant area of Colorado.

New York city developers David and Jed Walentas of Two Trees Management have been granted permission from the City Council to go ahead with a major building project.

Two Trees will go ahead with their plans to build a huge z-shaped tower, which will offer both residential and office space for rent, in Hell’s Kitchen.

The project, costing $600 million, is the largest the small company has ever attempted.

Finacial advisors across the US are finding it easier to start up their own independent firms.

The new craze for starting up independent broker services is largely due to the huge drop in office space rents in areas such as California and New York.

This rent decrease has helped to decrease business start-up expenses by 30% since last year.

New figures from CB RIchard Ellis predict a potentially recessive year for the Houston office space market

Office buildings in the area could reach 1 million square feet of negative absorbtion in 2009.

There has not been such a vacancy level since after Enron collapsed.

At the end of Q1, there were 367,000 square feet of negative absorbtion in Houston commercial property.

As tenants are no longer able to afford rents, the office space vacancy rate in Philadelphia has risen to 15%.

There are predictions that the office space glut could continue well into next year and continue to get worse, as commercial real estate often lags behind as an economic indicator.

Philadelphia landlords have begun offering cheap deals to attract potential commercial tenants.

Downtown Pittsburgh’s office market has gained some stability in the first quarter of 2009.

The office space vacancy rate for the downtown area was 16.8%, up by only 0.1% since the end of 2008.

The overall office space vacancy rate for Pittburgh rose from 15.4% to 15.9%.