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NEW YORK CITY-Cushman & Wakefield, GlobeSt.com’s newest provider of market data, finds Downtown office areas remaining robust, with vacancies stabilizing. Sublease space, however, continues to influence the overall markets, as does the activity within tech-heavy areas.

The result of a major, newly forged alliance between GlobeSt.com and C&W, visitors can access Cushman & Wakefield statistics by clicking on the Market Data button on the top of any GlobeSt.com page and selecting a city.

“We’re finding that the central business district markets are for the most part remaining strong,” Maria Sicola, senior managing director of research analytics for C&W, tells GlobeSt.com. “It is the sublease space that has been put on the market since the fourth quarter of last year that is having the most profound effect on increasing vacancy rates and subsequently driving down rental rates.

“We do believe, however, that the bulk of the sublease space has been returned to the market and that construction levels are more in line with demand than they were in previous real estate slowdowns,” continues Sicola, who is also a member of GlobeSt.com’s Think Tank. “So, while we’ll probably see rents decline, we think the most severe impact has hit most of our markets. We will continue to monitor the markets that are comprised significantly of tech firms and the submarkets as well.”

Sicola’s take on the industrial market is also cautiously optimistic. “The industrial sector has slowed down marginally as well, and it’s also feeling the impact of tech and e-commerce firms as well as telcom hotels returning to the market,” she says. “Rents have softened a little bit, but traditional warehouse markets such as New Jersey, Boston, Chicago, Dallas, Columbus, OH and Southern California remain stable.”

The addition of Cushman & Wakefield’s office and industrial statistics to our roster of market-data providers gives GlobeSt.com users immediate access to every major real estate sector including multifamily (Marcus & Millichap); tenant-rep office (Cresa); hotels (Lodging Econometrics) and retail (ChainLinks). Also on our Market Data pages are tax tips (American Property Tax Counsel) and CMBS statistics and analysis (Lend Lease).

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