Trend Spotting: Presidential Election Years

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Presidential Election Years and New Activity in Manhattan JLL research

By JLL New York, Research

We often hear that Wall Street dislikes uncertainty, but Manhattan office tenants don’t appear to like it either. The last two presidential election years have coincided with a drop in new leasing activity, especially among large users—those 100,000 square feet or greater.  In an uncertain political environment, some tenants may choose either to wait or renew.  Since many tenants can’t afford to put off real estate decisions,  we are forecasting a rise in renewals in 2016.