Empty offices are on the rise

Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress that could lead to yet another wave of problems for troubled lenders.

Related Links:
rVACANT06 Securitized commercial loan delinquencies | Graphics
With job cuts rampant and businesses retrenching, more empty space is expected from New York to Chicago to Los Angeles in the coming year. Rental income would then decline, and property values would slide further. The Urban Land Institute predicts 2009 will be the worst year for the commercial real estate market "since the wrenching 1991-1992 industry depression."

www.heraldtribune.com...

I get the feeling that this will get alot worse before it gets better. Will we ever reach previous levels or is this a trend that wont be turned around?

great,more places to hold illegal raves in


second line....

10% of stores? I think they need to get out in the cities and take a look.
In our area there are already 20% or more that are empty.

Shops have been closing at a high rate for the last 4 months.
I watched 12 stores close in one day from one holding company going under.
They lost all they had and had been paying there bills .
When they went to get there wares in there stores they where only given 24 hours to move there things out. And that is not having any place to take there stuff to.
I have to laugh at the stories put out by the new's. They seem to have no real idea what is going on around them.

heres some businesses that folded this year (just to name a few):

Bombay Co.
Lehman Brothers
Bear Stearns
Aloha Airlines
Skybus
ATA
Champion Air
Linens 'N Things
Apparel chain Steve & Barry's
Specialty retailer Sharper Image Corp
KB Toys
department store chain Mervyns
British retailer Woolworths Group PLC

Circuit City Stores Inc., the nation's second-biggest electronics retailer, is closing more than 150 stores and laying off thousands of employees as it keeps operating and attempts to restructure under Chapter 11 bankruptcy protection.

seattlepi.nwsource.com...

Heres some that may in 2009 -

Newspapers - www.washingtonpost.com...

General Growth Properties - www.bizjournals.com...

25% of retailers - blog.shoeboxed.com...

Chemical Giant Mulls Bankruptcy - online.wsj.com...

this list goes on and on...