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Several nonresidential project types were able to show improvement during August. Office buildings rebounded 15% after a subdued July, and the depressed manufacturing plant category advanced 21% with the help of a $128 million telecommunications equipment research lab in Pennsylvania.
Non-building construction, at $90.5 billion in August, was down 5%.
Residential building in August increased 3% to $200.6 billion.
patent: 5.335,893 Issued: August 9, 1994 Inventor: Fred W.
patent: 5,336,256 Issue& August 9, 1994 Inventor: Dan W.
patent: 5,336,461 Issued: August 9, 1994 Inventors: K.
patent: 5,336,554 Issued: August 9, 1994 Inventor: David Knight Assigned: (Not mentioned) U.S.
In industry groups, output in manufacturing increased 0.3 percent in August
; excluding motor vehicles and parts, output increased 0.6 percent, about the same as in recent months.
Despite Midtown's negative net absorption, overall asking rents jumped 3 percent in August to $42.43 per square foot.
Downtown's Financial District continued to dominate the Lower Manhattan leasing scene in August, registering 80,000 square feet of net absorption on leasing activity of 310,000 square feet.
Meanwhile, the WTC/WFC submarket recorded 40,000 square feet of net absorption on leasing activity of 110,000 square feet in August, lowering its availability rate slightly to a mere 4.3 percent.