New York Chart of the Week: July 28, 2014
* Includes 5,000+ square foot tenants
- In Midtown South, TAMI (Tech, Advertising, Media & Information) tenants comprise 40.9 percent of space, while FIRE (Financial Services, Insurance & Real Estate) tenants occupy only 13.8 percent.
- The opposite is true Downtown, where FIRE tenants make up 39.2 percent versus TAMI’s 12.2 percent.
- This divide may close as TAMI tenants continue to relocate Downtown to capitalize on its high-image office space, lower occupancy costs, and convenience. Moreover, Manhattan high-tech employment has outpaced the rest of the office-using market, growing 33.3 percent since 2009.
Source: JLL Research