Jones Lang LaSalle Reports Long Island Office Market Demonstrated Signs of Recovery in First Quarter of 2011

MELVILLE, NY – May 3, 2011 – (RealEstateRama) — Jones Lang LaSalle announced the Long Island office market demonstrated signs of recovery in the first quarter of 2011. The market’s improving fundamentals were led by Nassau County, which posted a considerable drop in vacancy rates and a slight increase in average asking rental rates in all property types. Suffolk County’s office market remained steady, with Class A properties recording a drop in vacancy rates and a minor increase in rents.