Suburban office vacancies up; some rents slip

(NEW INFO, LINKS MAY 15)  Office vacancies stood at or above 25 percent in Bucks and Delaware Counties, Wilmington, and Montgomery County's Horsham-Willow Grove area during the first quarter, reports Studley's Philadelphia office in its quarterly survey. Link here.
  Rents asked by landlords slipped in most Montgomery County markets and in South Jersey, but rose in Center City and in the Main Line and Conshohocken sub-markets. The Main Line-area suburbs (Bala Cynwyd, King of Prussia, Radnor) were the only market where typical Class A asking rents topped $30 a square foot.
  Center City vacancy stood at 11.7 percdent, below the U.S. average of 14.6 percent, though the suburbs were mostly higher. 
  Rival Grubb & Ellis's report shows more detail and vacancy rates in Center City office districts, including a $30.55/sf average asking rent but also slightly above-city-average vacancies in the West Market district, home to the city's tallest and newest towers. Link here.