Category Archives: Commercial Office Space

Hudson Yards/Manhattan West update: New and improved product continues to draw from Midtown

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As Hudson Yards/Manhattan West takes shape, more and more traditional Midtown tenants have committed to the new and renovated quality spaces on the Far West Side, according to JLL Research. The westward trend continues as two more relocations from Midtown were reported in August: Business services firm… Read More

One Vanderbilt unveils additional building details

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Across the street from JLL’s Midtown Manhattan office, one of New York City’s soon-to-be-tallest buildings is slowly emerging from the ground. One Vanderbilt, the 1,401-foot tower developed by SL Green, has now reached street level, and its official Instagram has been actively sharing both its progress and plans.

In addition to… Read More

Midtown East rezoning to spur development of new office towers

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The Midtown East rezoning deal struck between the New York City Council (Land Use Committee) and the de Blasio administration not only allows for new construction of approximately 6.5 million square feet of office space within the 78-block area around Grand Central, but is also intended to generate a minimum of $61.49 per square foot, or 20 percent of the… Read More

Doing WELL at our Downtown Office

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Our downtown office at 28 Liberty Street has been awarded WELL Certification at the Silver level by the International WELL Building Institute, the premier building standard to focus on people’s health and well-being through the built environment.

Think of WELL as a nutrition label for your office, providing transparency on the quality of your built environment. It’s a performance-based system and the certification required mindfulness from the space’s conception to its day-to-day… Read More

Cracking the hardest code

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JLL’s technology report “Cracking the hardest code: Where to find tech talent?” is an interesting and thought-provoking piece.  Given the growing concentration of talent in software development and computer programming in tertiary markets like Albany, NY and Columbus, OH (among other surprising locations), will technology companies continue to pay sky-high office rents in Manhattan?

Ponder this: according to JLL Research, TAMI industry office-using employment, largely driven by technology companies, has increased by… Read More

Will bank branches on every street corner become a thing of the past?

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A 20% decrease in bank branch locations is expected over the next 10 years

We’ve all heard the catch phrase “bricks versus clicks.”  But have you considered the cost savings tied to bank branch evolution from bricks to clicks?

Simple math tells an astonishing story: the cost per transaction through a bank teller is $8.00; the cost per transaction via a mobile app is $0.08.  Mobile deposit, transferring and banking has changed the… Read More

JLL promotes the workplace of the future

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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… Read More

5 key trends shape mid-year Skyline update

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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.

  1. Gone today, here tomorrow

Many markets are expected to enter… Read More

Technology Firms Wired Over JLL TechSpec

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JLL’s new unique platform, TechSpec, gives technology companies an advantage when it comes to finding and securing the perfect space for growing their business.

Finding an office space that fits a companys’ needs can be a struggle, but it doesn’t need to be thanks to JLL’s new website TechSpec. TechSpec is a revolutionary site that technology companies can visit for help finding the best office space to grow their business. TechSpec offers… Read More

TrendSpotting: Co-working in the Corporate Environment – Part II

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As discussed in Part I, co-working is a positive trend in real estate that is taking over our offices and the headlines in industry news. Co-working models are becoming specialized by industry and are beginning to morph and blend in different ways, leading to even more iterations and opportunities for change. Organizations within the same industry, or who share similar business lines or services are exploring corporate co-working models, and discovering… Read More