JLL’s Giles Wrench on why the NYC tech industry is like rock n’ roll

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Head of JLL’s International Desk talks to Tech City News about how tech is refining NYC

Wrench_Giles_sq_rgbAn article written by Giles Wrench, the head of JLL’s International Desk and a British expat based in New York, was recently featured by Tech City News in a series exploring New York’s tech ecosystem.

According to Giles, the latest surge in the tech industry can be likened to the arrival of rock n’ roll – just as music would never be the same again, and every popular music artist since has in some way been influenced by those transformational days of music, so too is today’s technology industry having a profound impact on the real estate market in NYC. Giles notes that an industry has never before single-handedly shaped the way we work together.

In the article, entitled Tech has made New York City almost unrecognizable Giles explores two themes that characterize the influence of tech on New York real estate – young employees and premium work spaces.

The Young Ones
With many high-tech companies largely staffed by millennials, Giles notes that the workplace preferences of this demographic are driving the trend toward denser work environments. Additionally, he says that the confluence of bright young people and Wall Street is fueling the NYC growth engine, with hedge funds and private equity firms joining venture capital firms–adding to the significant amount of capital available for high-tech companies.

Premium
Giles also considers the preferences of modern space users, including high exposed ceilings, polished concrete floors, lots of natural light, cool amenities and an efficient side-core layout.

Giles concludes by noting that:

“New York continues to evolve, excite and stay relevant in this new era of mobile devices, big data and unprecedented innovation.”

Read the article in full to get the full benefit of Giles Wrench’s insights regarding a city he loves so much, he has lived here for 17 years!

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