... "The pendulum has swung from landlords to tenants for the first time since 2003 as an abundance of office space and reduced demand is putting pressure on rents across the region," said Delores Conway, director of the Casden Real Estate Economics Forecast. The severity of the economic recession and commercial credit conditions will determine how much the two sectors deteriorate in 2009. If conditions worsen, companies will face increased challenges in meeting their payroll and financial obligations, driving up vacancies...
