CBD office rents ranged between $15 and $84 per square foot across 28 major metropolitan markets covered by a recent report released by Jones Lang LaSalle (JLL) for the second quarter of 2009.
Not surprisingly, New York CBD asking office rents were the highest in the second quarter of 2009 among the markets covered by the report. In particular, New York CBD rental rates averaged $83.28 per square foot in Midtown, $55.32 per square foot in Mid. South and $47.36 per square foot in Downtown.
Washington, DC and Boston CBDs feature in the second and third place with average asking office rental rates of $45.89 and
$44.20 per square foot, respectively, in the second quarter of 2009.
Miami and San Francisco complete the list of top five CBDs with the highest office rents with asking rents averaging $37.08 and $36.79 per square feet respectively.
Minneapolis, St. Louis and Cleveland feature as the markets with the lowest CBD office rental rates, with average asking rates of $15.73, $16.85 and $17.62, respectively.
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