TAMI tenants may prefer to hold a lunch meeting in Bryant Park with a Halal falafel and a $3 bottled water, but they demand first-class lobby concierge, wellness, gourmet food and more in the office. And it’s paying off. Large user tenants recently signed leases on New York’s West Side for >$100 per square foot that may include outdoor space, bike storage, fitness centers and pet-friendly facilities to help their organizations foster interaction, increase… Read More
Last week, JLL launched a mid-year update to the 2016 Skyline Report, which provides online access to current market intelligence for the most iconic offices across our skyline. JLL’s Skyline provides insights on office supply, demand, rents and leverage for the top-tier office market within CBDs and urban cores. Five key trends shape this update, and below see how they impact our City.
- Gone today, here tomorrow
Many markets are expected to enter a period of… Read More
New York’s Trophy Buildings Continue to Outperform Larger Market
While Manhattan’s growing economic diversification into high-tech and other creative industries is welcome news for the larger economy, JLL New York’s research team has found that financial and legal services continue to drive occupancy and pricing at the top of the market. The majority of New York’s most expensive properties remain clustered around the Plaza District, but… Read More
JLL will be leasing agent for the upper floors of the extraordinary 16-floor, 1 MSF building undergoing redevelopment for industrial, research and development uses
JLL has been selected by the Brooklyn Navy Yard Development Corp. as the leasing agent for Building 77, a 1 million-square-foot building located on Flushing Avenue in the Brooklyn Navy Yard between Brooklyn’s DUMBO and Williamsburg neighborhoods. JLL will provide marketing and transaction services for the 16-story facility, which is currently undergoing a complete retrofit to accommodate industrial, research and technology uses.
The building, originally constructed as a warehouse that also housed offices for the U.S. Navy Central Command, offers 80,000-square-foot floorplates and extraordinary, unobstructed views of Manhattan, the East River, and Brooklyn waterfront. An anchor tenant will have the ability to incorporate a 20,000-square-foot roof deck with 360-degree panoramic views for its exclusive tenant use.
On November 17, New York Mayor Bill de Blasio announced a $140 million investment to transform Building 77 into a modern facility, anticipated to generate more than 3,000 jobs. The investment by the city, the BNYDC, and the Brooklyn Borough president and City Council, will be used to renovate and reposition the currently vacant industrial building. The renovation program significantly expands upon a larger initiative begun under the previous administration, now doubling the overall number of jobs at the site. It is anticipated that, when completed, Building 77 alone will increase overall employment at the Navy Yard by more than 40 percent.
The comprehensive redevelopment of the building is now underway with delivery for tenant fit-out anticipated by third-quarter 2016. The building will feature a new exterior and new window wall system, and it will be outfitted with fully modernized systems, state-of-the-art information technology systems, and redundant power and building services. The renovation will also feature new, double-height entrances and lobbies at both the north side of the building within the Navy Yard and at the south side of the building on Flushing Avenue. The building’s large floorplates will enable prospective tenants to create highly efficient and customized layouts.
JLL will focus on the upper floors of Building 77. The JLL team handling the leasing assignment includes Michael Shenot and Paul Mas, managing directors; Michael Berg, Edward DiTolla and Ruby Hwang, senior vice presidents; and Darren Ferguson, associate. The JLL team will work closely with the Brooklyn Navy Yard leasing team.
ICSC – where retail and real estate meet
Anyone who is anyone in retail will be attending the ICSC National Deal Making Conference in New York from Monday December 8 – Tuesday December 9.
Join JLL retail experts in our private meeting space for giveaways and insights into the world’s best retail market.
Stop by the JLL Retail Booth from 8:30AM
Hall… Read More
Premiere Flatiron retail space hits market | JLL to lease two-level, 8,987-SF retail cooperative in historic district
Madison Capital recently selected JLL as exclusive leasing agent for the retail property at 129 Fifth Avenue. The firm will provide a full range of property marketing and transactional services for the 8,987-square-foot retail cooperative, currently occupied by Armani Exchange.
The JLL team handling the agency leasing assignment includes Amy Zhen, senior… Read More
Zhen joins JLL as a Senior Vice President specializing in urban agency leasing in New York City
JLL is continuing the expansion of its retail platform in New York City with the addition of Amy Zhen. Zhen will serve as a Senior Vice President working on the team lead by Vice Chairman Bob Gibson, who joined JLL earlier this year to lead the firm’s New York retail brokerage practice.
In her new role, Zhen is tasked… Read More
JLL to lease landmark office building
Fosun Property Holdings, a subsidiary of Fosun International (00656.HK), is proud to announce a partnership with the leading real estate services company JLL (NYSE: JLL) in the leasing of One Chase Manhattan Plaza, the landmark office building in New York that Fosun purchased in December 2013.
The 60-story, 2.2 million-square-foot class-A office building will have more than 1 million square feet of office space available for new tenants starting from… Read More
Manhattan Office Outlook | September 2014
JLL’s New York Research team has just released its September Manhattan Office Outlook – a monthly wrap-up of leasing activity in Manhattan, including Class A vacancy and asking rates, along with a snapshot of conditions in capital markets.
Report highlights are as follows:
Midtown Class A vacancy fell sharply in August to 10.7 percent from 11.2 percent in July while asking… Read More
Midtown South experiences an uptick in July
JLL recently released its Manhattan Office Outlook – a monthly wrap-up of leasing activity in Manhattan, including Class A vacancy and asking rates, along with a snapshot of conditions in capital markets. Report highlights are as follows:
Though leasing activity in Midtown was light for July, the Midtown Class A vacancy rate decreased to 11.2 percent from 11.5 percent… Read More