October 17, 2008
..."When companies downsize, they don't immediately give up their space," said Richard Green, director of the USC Lusk Center for Real Estate.
Green predicted that landlords would keep their asking rents up as long as they could while offering other incentives such as reduced parking prices and generous allowances to help tenants build out their office interiors. It's only when those types of inducements are no longer sufficient that property owners tend to lower rents, he said...