Office Markets May Take Hit ; Lehman's Losses Could Hurt Nyc, North Jersey

Summary

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The collapse of Lehman Brothers Holdings Inc. this week could ripple through office markets in New York City and North Jersey.

While the British bank Barclays Plc announced it would buy Lehman's 32-story headquarters in midtown Manhattan and two data centers in North Jersey for $1.45 billion as part of a deal to salvage the bankrupt securities firm, future downsizing could further soften office markets in both areas.

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Extract

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Office Markets May Take Hit ; Lehman's Losses Could Hurt Nyc, North Jersey

If Lehman were to vacate all of the approximately 2.7 million square feet of office space it occupies in New York, the city's office vacancy rate - at 8.3 percent i...

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