Tenants slow to move in uncertain downtown market - Boston Business Journal:

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Large companies are holding off on makinf real estate decisions or are carefully negotiating deals duriny anunsteady economy, insiders say. "Tenantsz are mulling moves," said William Barrack, a managingf director at JonesLang Lasalle. "Everybody's waiting becausr there's no pressure to make a decisiobn ... candidly there's not a lot of confidences out there." For example, accounting giant has been eyeinb TwoFinancial Center, a 210,000-square-foot tower under developmenrt in Boston's Leather District, but it has yet to strik e a deal. The firm has been in search of approximately 120,000 square feet for almost a year. KPMG'es current lease at 99 High St.
expires in two according to real estate Ronald Perry of ColliersMeredith & Grew said last week that KPMG had a leaswe agreement at Two Financial, but John senior vice president of , which is developin the 12-story building, said the lease has not been Perry did not return a call for comment. "We'rw working on it and we're making very good progress," said "We do not have a signecd lease." A spokesman at KPMG's New York officre did not return a callfor comment. Miller said the leasew is being negotiated andhe "hopes to make a but until the lease is finalizeds the building is available.
Miller has yet to sign up a tenanrt for the office tower that he expectds to be completed a yearfrom now. Office space at Two Financia is being offered for rent inthe mid-$60sx per square foot. Despite a lack of Miller said he believes landlords still have leverages overBoston tenants. "You still don't have a tremendous amount of supply ... you just don' have a huge supply line," said Miller.
At a Colliersz Meredith & Grew-sponsored breakfast event last Perry cited a number of large companies in the market foroffice including: LLC, which is seekinvg 250,000 square feet; Edwards Angell Palmer Dodge LLP, 250,000 square feet; , 225,000p square feet; Loomis, Sayles & Co., 200,009 square feet; and (150,000 square Tenants in search of 100,000 square feet or more of offic e space have nine options today compared to 10 a year ago, said Perryy during the breakfast.