PRLog (Press Release) -
Feb. 9, 2012 - Consequently, the Wall Street Journal (http://online.wsj.com/
article/BT-CO-
20120131-717936.html)
reports that SL Green Realty Corp. – New York City’s largest office landlord – could be headed for dark times in the coming months. While space demand falls, rent growth is expected to diminish.
This is just one of the many ups (
http://streetid.com/newsblog/?p=814) and downs (
http://streetid.com/newsblog/?p=791) of the financial sector, which has negatively affected a number of industries over the past few years. For this quarter, however, SL Green Realtys’ earnings proved to be better than many had anticipated.
According to the Wall Street Journal, the company has benefited from an increase in demand from “technology, media and retail companies “that have limited options for new space.” With fewer spaces available, SL Green Realty was able to raise its rental fees – and its bottom line. But it seems that gravy train might soon come to an end.
With so many layoffs (
http://streetid.com/newsblog/?p=737) already in the can, and the horrifying potential for another round (http://streetid.com/
newsblog/?p=
826), the Wall Street Journal said that some analysts do not believe that SL Green Realty will be able to maintain its momentum. Bank of America, for example, said “adios!” to 30,000 jobs. These jobs weren’t cut all at once. But with the company’s staggered reductions, landlords simply have a little more time to fill their spaces. In the end, however, they are still going to lose some occupants.
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