President Bush Is So Not Getting a Good Deal on Sherry Lane Place Office Space

Bloomberg's story concerning President Bush's new office digs in Preston Center -- first in Berkshire at Preston Center, before he moves into a larger space at Sherry Lane Place -- contains an note of interest toward the end. But first, this relevant aside: Says here that taxpayers will pay $38.95 per square foot in Sherry Lane Place. Yet space is currently available in the office tower for "$24.25 per square foot - plus Electric." Does this mean Bush is about to raise the area's office market price? Bloomberg?

[Dan Fasulo, managing director of Real Capital Analytics Inc.] said he doubts Bush's moving to Dallas will boost rents in that city.

"Bill Clinton took office space in Harlem and he hasn't done anything to the office market up there," Fasulo said. "I presume Bush would have the same minimal impact."

I just hope Bush takes the time to read Sherry Lane Place's tenant handbook. Could be handy when he needs to know where the deli is.
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Robert Wilonsky
Contact: Robert Wilonsky