Regus, the global provider of workplace solutions, has launched a new sweepstake.

One small business or entrepreneur will win a year of office space in one of Regus’ New York City locations.

Businesses may enter the sweepstakes from October 19 to December 31.

An agreement has been reached between the Democratic Party of Nevada and the organisation’s landlord over an accusation of unpaid rent.

The owners of the office space, Timothy and Carol Antoku of Honolulu, filed suit last month against the party.

The party said that it had “always intended to settle this debt” and that members were “pleased to have resolved this matter to the satisfaction of both parties.”

In Sacramento, office space is becoming still more affordable for commercial tenants.

Sacramento Tenant Advisors’ Reid Boggiano said that companies in search of class B or C office space will be able to afford places that would have been out of the question during the economic boom.

As vacancy rates rise and companies consolidate offices, landlords have been forced to drop their prices.

Tom Absher and Dan Putnam, owners of Pacific Plaza in Tacoma, will ask city officials for permission to rent out some of their building as office space rather than retail space.

The building has recently been rennovated from a city owned parking garage to become a multi-purpose commercial property.

Due to the public private partnership between the owners and the city, the authority has some say over the use of the ground floor.

Victor Calanog, director of research at Reis Inc., has stated that the US office space market has yet to hit rock bottom.

Whilst many commentators have been quick to look for green shoots of recovery, Calanog has said that the worst is not over yet.

“Weakness in rents is not concentrated in just a few cities,” he said, “We have yet to observe clear, systematic evidence that the office market is bottoming out.”

The vacancy rate in the US commercial property market is at its highest for five years.

The national vacancy rate hit 16.5% in the last quarter.

This is up by 2.3% from the same quarter in 2009.

Fish & Richardson has moved out of Boston’s financial district in search of cheaper rented office space.

The firm has signed a lease for a 124,00 square foot space at 1 Marina Park Drive, Fan Pier.

Fish & Richardson will leave its 96,000 square foot office space at 225 Franklin Street in Fall 2010.

In Nashville, Tennessee, the recession has taken its toll on the commercial property market.

Tenants have been able to secure freebies with their office space; energy services firm Conservation Services Group received nine months free rent with their 6,200 square foot space.

Landlords have dropped prices aggressively in order to attract tenants.

After a dry period in the commercial property market, giant retailer Gap has signed New York’s largest long-term lease of the year.

Gap will lease 265,083 square feet of office space at 40 Worth Street.

The new space will house offices of all its brands.

As the co-working phenomenon rolls on, a new rented office space has opened in Chicago.

Shaul Jolles, a real estate broker, has opened OfficePort Chicago, a building offering small spaces for freelancers looking for somewhere more vibrant to work than their own homes.

The motivation behind the new space is to encourage freelancers to network and collaborate whilst they work.