New leases led top activity in 2014

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New York Chart of the Week: January 5, 2015

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  • 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 20 leases totaled 7.8 million square feet compared to 9.1 million square feet in 2013
  • The TAMI sector continues to grow its share of leasing activity with seven of the top 20 leases. Financial and legal services followed with six and five leases, respectively

Source: JLL Research

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