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By a WALL STREET JOURNAL Staff ReporterOctober 17,
2001
NEW YORK-Companies have moved nearly four million square feet of their
operations and about 14,800 Jobs out of lower Manhattan to newly leased
space in New Jersey and Connecticut since Sept. 11 according to a report
slated to be re-leased tomorrow.
TenantWise.com Inc., an online commercial real-estate firm, surveyed
187 tenants that had occupied 19.6 million of the nearly 32 million square
feet of office space that was either damaged or destroyed in the terrorist
attacks last month.
More than 5.5 million square feet of downtown space have been replaced with
previously unused space the companies were already leasing-primarily in
midtown Manhattan and New Jersey, the report says. TenantWise.com Chief
Executive M. Myers Mermel estimates current Manhattan vacancy rates at
about 7.4%, down from 8.7% prior to Sept. 11.
Copyright © 2001 Dow Jones & Company, Inc. All Rights
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