RICHMOND, VA--Jones Lang LaSalle Americas, Inc. research reports strong headwinds from the regional and local economies have kept companies cautious with little incentive for expansion plans.
As a result, closings and cutbacks have placed downward pressure on absorption
and put upward pressure on vacancy rates.
Looking ahead, the credit markets have stifled new development activity, leading to stagnant new supply through 2011. From the demand side, smaller companies have started to reenter the market, generally a leading indicator of stabilization and a possible start into recovery.
For a complete copy of the company's news release, please contact Perry H. Moss, (top right photo) CCIM, MBA, Research Analyst, Jones Lang LaSalle Americas, Inc., tel +804 200 6463, mobile +804 245 9774, perry.moss@am.jll.com
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