Some of the country's top office-building owners reported they are cutting rents and increasing tenant incentives to keep buildings filled during one of the worst commercial real-estate markets in decades.

Boston Properties, owner of the GM Building in Manhattan and other trophy properties, reported Tuesday, after the market closed, that new tenants are paying 17% less in gross rents than the prior tenants who had occupied that space. Boston Properties also reported that occupancy of its total portfolio, which includes 146 properties, declined 2.4 percentage points, to 92.1%, compared with the end of 2008.

Wall Street Journal