LI not affected by WTC, slowdown.

According to Insignia/ESG's third quarter 2001 Long Island office market report, a slowdown in the US economy during 2001 and the aftermath of the terrorist attack on the World Trade Center has not directly impacted the Long Island office leasing market in the third quarter of 2001. The office

According to Fred Trump III, managing director of Insignia/ESG's Long Island office, "The most significant trend in 2001 has been the continuing increase in high-quality sublease space coming back on the market." Sublease space accounted for 21% of all available space on Long Island at the end of September, up from 18.5% at the end of the second quarter.

Key statistics and market activity revealed in the report include: Leasing activity was fairly constant throughout the last two quarters, averaging almost 520,000 SF per quarter; at 11.2%, Long Island's office availability rate remained close to equilibrium, rising moderately from the previous year when the nation's office leasing markets were booming; and asking rents have been extremely stable in the past year, increasing only 32-cents per SF.

"The sustained leasing activity level from second to third period is an excellent sign for the Long Island economy," commented Trump. "Considering the widespread talk of recession in recent months, this positive activity level leads us to believe that Long Island may be somewhat outside the main path of a nationwide slowdown."

The report provides critical intelligence and analysis on Long Island office market trends, discussing leasing activity, major lease transactions, net absorption, sublease space, availability rates, asking rents, investor interest, and other vital indicators of the market's health.