New York Chart of the Week: September 29, 2014
- Demographic trends over the last 10 years have favored urban over suburban office markets as young, educated professionals have moved to cities and stayed longer.
- UBS and IBM (Watson) are two examples of corporations choosing to expand in Manhattan over cheaper suburban options.
- The National CBD vacancy rate is 12.9 percent, compared to 17.7 percent for suburban.
Source: JLL Research , 3Q14 Overall CBD vacancy