Relocations invigorating Downtown market

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New York Chart of the Week: August 4, 2014

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  • Relocations have represented a substantial—and growing—proportion of leasing activity in the Downtown market in the post-recessionary period. In fact, it appears likely that between 50 to 60% of new leases will be comprised of relocations in the near-term.
  • These tenants represented only 39.8% of new leases in 2008 and 33% in 2009.
  • Creative tenants have been particularly active, representing 50.8% of total relocations and 13.6% of gross leasing activity by square footage from 2010 to present.

Source: JLL Research, Alliance for Downtown New York

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