Monthly Archives: January 2015

Strongest year since the financial crisis

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15_Jan_MarketscapeManhattan’s office market posted steep declines in vacancy, positive absorption and a 10-year high in new large block leasing activity by year-end 2014, according to JLL. 

Major themes for the year included the migration of large tenants to Lower Manhattan, record leasing activity in Midtown South and the continued rise of Midtown’s Trophy properties as both international investors and tenants take interest.

Manhattan’s overall… Read More

Wall Street reshaped by office conversions

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New York Chart of the Week

PowerPoint Presentation

  • Conversions of office properties to alternate uses—namely residential and hospitality—have been especially pronounced near the New York Stock Exchange.
  • Approximately 8.6 million square feet of Downtown office space has been repurposed from 2007 to present—more space than 1 World Trade Center, 4 World Trade Center, and 7 World Trade Center
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Linda Aronson to lead JLL’s NY Tri-State Property Management Group

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Expansion of property management business sees JLL split business development, operations functions to better serve growing client base

Aronson, Linda_sq_rgbJLL has appointed Managing Director Linda Aronson to lead the firm’s Property Management group in the New York tri-state market, with a specific focus on new business development efforts. Matt Duthie, managing director, will continue to… Read More

TAMI sector led 2014 Manhattan leasing activity

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New York Chart of the week: January 12, 2015

PowerPoint Presentation

  • TAMI tenants, powered by steady employment growth, dominated total leasing activity in 2014, increasing their market share by 6.3 percentage points year-over-year.
  • The FIRE sector (anchored by the recovering financial services industry) failed to maintain the top spot, declining by 4.4 percentage points from 2013 to 2014.
  • TAMI
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Our commitment to New York

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JLL’s Culture Club works with our employees to give back to the community

God's Love We Deliver_team photo3

JLL Team runs the God’s Love We Deliver 5K Race in Central Park

The colder months can be a beautiful time to live and work in New York. Activities like ice skating in… Read More

Expansionary leasing activity drives growth across markets

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JLL Q4 U.S. Office Outlook

JLL’s Q4 U.S. Office Outlook highlights economic and real estate conditions in Q4 and forecasts for 2015 and beyond. Key findings from the recently released report include:

  • Swelling corporate confidence and economic growth fueled net absorption of 54.7M s.f. in 2014 (36.7 percent increase from 2013), with 2015 forecast calling for growth to uptick by another 25 percent.
  • Total vacancy declined 15M s.f. from year-end 2013—from 16.6 percent to
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Seven of the 11 major sectors post year-over-year job gains in NYC

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NYC Office Employment Update: December 2014

Employment_blogJLL’s monthly office employment update covers key employment statistics and trends, and the subsequent implications for real estate.

Highlights from the December update include:

  • In November, the city’s unemployment rate continued to decline, inching to 6.3 percent from 6.4 percent in October
  • With seasonal adjustments, NYC employment remained relatively flat in November, posting an estimated 4,083,000 payrolls
  • Education & health services led employment
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New leases led top activity in 2014

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New York Chart of the Week: January 5, 2015

PowerPoint Presentation

  • With business sentiment ending 2014 at a record high, decision makers opted for new leases over renewals. New leases accounted for 65.0 percent of the top 20 Manhattan leases in 2014, compared to only 25.0 percent in 2013
  • Large leasing activity slowed in 2014 as the top
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Number of large tech leases climbs

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High-tech_blogJLL NYC Research: December Tech Monthly

JLL’s Tech Monthly considers activity in New York’s tech sector, including employment growth, leasing activity, venture capital funding and companies hiring.

Key takeaways from our December update include:

  • After a dip in October, NYC tech employment ramped up in November, increasing by 5.7 percent year-over-year
  • Tech leasing regained momentum in November, posting 746,383 square feet of activity
  • As options in Midtown South
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