Facing unchartered waters
Gair, C.
Facing unchartered waters - 2001 - National Real Estate Investor October 2001, 68-76(7) .
Reports on the real estate industry in New York following the devastating terrorist attacks on the World Trade Centre. Details the huge amount of physical damage that was caused by the attacks with about 28.7m sq. ft. of office space damaged or destroyed. Also reports on the fact that brokers are working with displaced and shocked tenants many of whom are dealing with the loss of employees. Notes the chronic shortage of offices is leading to brokers leasing substantial quantities of space in a very short space of time. Argues the effect of the attacks on the market in the long term may be less severe than some analysts may expect and recovery will be easier than in the more volatile stock market.
REAL ESTATE INDUSTRY
NEW YORK
TERRORIST ATTACKS
OFFICE SPACE
WORLD TRADE CENTER
RENTS
RETAIL SPACE
ECONOMIC OUTLOOK
STOCK MARKET
Facing unchartered waters - 2001 - National Real Estate Investor October 2001, 68-76(7) .
Reports on the real estate industry in New York following the devastating terrorist attacks on the World Trade Centre. Details the huge amount of physical damage that was caused by the attacks with about 28.7m sq. ft. of office space damaged or destroyed. Also reports on the fact that brokers are working with displaced and shocked tenants many of whom are dealing with the loss of employees. Notes the chronic shortage of offices is leading to brokers leasing substantial quantities of space in a very short space of time. Argues the effect of the attacks on the market in the long term may be less severe than some analysts may expect and recovery will be easier than in the more volatile stock market.
REAL ESTATE INDUSTRY
NEW YORK
TERRORIST ATTACKS
OFFICE SPACE
WORLD TRADE CENTER
RENTS
RETAIL SPACE
ECONOMIC OUTLOOK
STOCK MARKET