FIRE tenants dominate Manhattan market, but smaller in size

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New York City Chart of the Week: August 11, 2014

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    • FIRE (Finance, Insurance, Real Estate) tenants currently seek smaller footprints relative to other sectors, likely due to fluid leasing activity at the top end of the market. These companies are the most active in the market (26.4 percent of total current demand) as economic conditions continue to improve and bank lending and profitability near record levels.
    • Long considered to be non-traditional office occupants, TAMI (Technology, Advertising, Media, Information) tenants have been flooding the Manhattan market. These companies comprise 19.7 percent of total current demand by square footage – third highest behind FIRE and PBS (21.3 percent) firms.

Source: JLL Research

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