Author Archives: JLL New York

Luxury brands opt for airport pop-ups

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If you were travelling through New York’s JFK Airport and thought you passed a giant blue Tiffany box, you were in fact correct.

The Tiffany installation was one of many examples of luxury brands popping up in airports as a way to draw in customers. Airports have long been synonymous with luxury retail outlets, but now a growing number of brands are choosing to showcase their wares in a more temporary, and eye-catching,… Read More

Recent activity suggest a westward shift in Manhattan’s center of gravity

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  • ​74 percent of all large relocations, by square footage, since 2014 represented movement either West or South; with the majority coming from the Grand Central and Plaza District districts.
  • These relocating tenants are leaving behind more than 13 million square feet of Midtown availability.
  • Large renewal activity remains concentrated in Midtown
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Heightened demand and new developments have propelled the Meatpacking District to the top of the market

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  • The desirability of the Meatpacking District (in part by fueled by Google’s move to 111 Eighth Avenue back in 2005 and its continued development of a “campus” in the micromarket) has encouraged developers to build boutique office buildings, which are commanding rents well above the market average. Opportunistic landlords are taking advantage of Meatpacking’s status as a trendy and hip place to be.
  • Six new developments—three complete and three impending, totaling 787,989
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What’s on the horizon for NJ incentives?

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With a new governor at the helm in New Jersey, and the Grow NJ program scheduled to sunset in mid-2019, the market is curious about the future state of economic incentives in the Garden State.

Our expectation is that the existing Grow NJ program, which has provided among the nation’s most lucrative incentives in recent years, will be amended or replaced over the next eighteen months rather than extended in its current… Read More

Manhattan’s Class A office market finishes 2017 strong

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Class A office product dominated Manhattan in the last quarter of 2017, as detailed in the Q4 2017 Office Insight report recently released by JLL Research. This “flight-to-quality”… Read More

What are your real estate resolutions for the New Year?

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Do your new year’s resolutions include saving costs on IT expenses, energizing your employees and giving your workplace a ‘face lift’? If not, they should, because we have 35 strategic yet practical real estate cost-cutting tips to ensure you’ll succeed in 2018. No matter where you are in your commercial real estate journey, you’ll want to keep this information handy to help reduce your spending, grow your revenue and empower your… Read More

JLL New York continues giving tradition

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It truly is the most wonderful time of the year, and our JLL office was happy to give back this holiday season. The employees at our 330 Madison Avenue office collected holiday gifts for the mothers and children currently living in the St. Joseph’s Home in Jersey City, NJ.

St. Joseph’s Home, part of the York Street Project, is a transitional home for homeless women and their children- providing them with a… Read More

New York’s Fifth Avenue ranked #2 on 2017 Most Expensive Streets Report

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Where do office tenants pay top dollar, you may ask? According to the 2017 Most Expensive Streets Report, the Midtown Manhattan stretch of Fifth Avenue ranks number two on the list of the country’s most expensive streets.

Fifth Avenue, from 50th Street to 61st Street, came in second behind California’s Sand Hill Road in Menlo Park, recording an average asking rent of $116.04 per square foot with top asking rents as high… Read More

ICSC expands in NYC

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The retail climate is hot at ICSC 2017 – New York Deal Making, as retail industry experts gather to discuss navigating a somewhat unknown but definitely expanding frontier. Even this year’s conference is expanding –  attendance, exhibitor space and CRE technology have all expanded at the Jacob K. Javitz Convention Center to help retailers build brand loyalty, grow revenue and empower the next generation…all in less than 3 days.

According to Shopping… Read More