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September 21, 1999 | From Bloomberg News
The pace of new office construction in the United States rose 6% in August from the prior month, reigniting concern among real estate investors that development may exceed demand for new space, according to PaineWebber Inc. New office construction starts stood at 265.2 million square feet on an annualized basis last month, PaineWebber said, citing statistics compiled by F.W. Dodge, a division of the McGraw-Hill Cos. A less-volatile three-month average of starts fell 2%.
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BUSINESS
September 21, 1999 | From Bloomberg News
The pace of new office construction in the United States rose 6% in August from the prior month, reigniting concern among real estate investors that development may exceed demand for new space, according to PaineWebber Inc. New office construction starts stood at 265.2 million square feet on an annualized basis last month, PaineWebber said, citing statistics compiled by F.W. Dodge, a division of the McGraw-Hill Cos. A less-volatile three-month average of starts fell 2%.
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