Many companies that were looking for office space are now opting to delay their plans as uncertainty looms in the economy, stalling what had been a two-year rebound, The Wall Street Journal reports.
The commercial market had been picking up in recent months because of expectations that rents and occupancies would continue to rise. But the economy and fears over a double-dip recession has more worried about moving forward.
Companies such as UBS AG, Morgan Stanley, and the Quidsi unit of Amazon.com Inc. all recently have postponed looking for office space in New York.
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