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SIX LARGE BLOCKS OF SPACE totaling 1 million square feet have come on the market in prime midtown office buildings over the past several weeks. The surge in availability isn't a sign of a coming downturn, but rather a signal that more companies are trying to take advantage of historic high rents.
"If a corporation or a landlord has the ability to create a large block of space for whatever reason, it Is a very opportunistic time," says Paul Glickman, an executive vice president at Cushman &Wakefield Inc.
Among those looking to unload space is ABN Amro. The financial services firm, which is considering a move downtown, has put more than 150,000 square feet on the market at 55 E. 52nd St. Rents downtown are running from $31 to $35 a square foot, while sublease...