Feb
09
Nassau County Office Thrives in 2015
ByJLL’s latest report examines why Nassau County’s office market saw record success in 2015, and if this success will hold steady this year.
2015 was a good year for Long Island as a whole. “No surprise in 2015; the market has been steady as it’s been in previous years,” Raymond Ruiz, executive vice president with JLL, told CPE. But it was a particularly good year for Nassau County, where the vacancy rate for the Class A segment dropped from 15.7 percent to 11.7 percent year-over-year in the fourth quarter. With Class A leading the way, Nassau County’s average vacancy rate for all office classes was just 14.2 percent in the fourth quarter, marking a 10.7 percent year-over-year decline and the lowest overall vacancy rate in the county in more than four years…
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