By Tom Stundza -- Purchasing, 10/15/2008 2:21:00 PM
Office vacancies in U.S. downtowns rose to 10.6% in the third quarter as employment fell nationwide and companies put office space up for sublease, according to real estate broker Cushman & Wakefield. The national office vacancy rate was up from 10.2% in the previous quarter and 9.8% a year earlier, New York-based Cushman says in a statement reported by Bloomberg News Service. The third quarter's vacancies rate was the highest since the fourth quarter of 2006, when it also was 10.6%. The rise in vacancies coincided with a drop in the amount of space newly leased, which fell 14% from a year earlier to 53.4 million square feet.
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