New York office market among country’s tightest

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New York Chart of the Week: September 29, 2014

PowerPoint Presentation

  • 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

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