Category Archives: Financial Services

Technology is redefining financial services real estate

0 CommentsBy

Fintech, omni-channel strategies are re-shaping real estate demands, re-defining financial centers

As banks continue to recover from the last financial crisis they also face heightened regulation, potential for security breaches and a squeeze on expenses. According to JLL’s North American Banking Outlook, this is having a major impact on their real estate decisions. While banks still represent the largest occupiers of trophy Class A office space in most major cities, the financial… Read More

Tech, tourism lead post-recession job growth

0 CommentsBy

New York City Chart of the Week

PowerPoint Presentation

  • Once a growth engine for the city, Manhattan’s financial services sector shrank by 6.4 percent from 2007 to 2014. The sector’s share of overall leasing activity fell by 9.0 percentage points over the same period.
  • Though a small portion of overall jobs, the tech sector had the fastest employment
  • Read More

Midtown trophy rents at highest level in three years

0 CommentsBy

New York’s Trophy Buildings Continue to Outperform Larger Market

Skyline

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… Read More

Strongest year since the financial crisis

0 CommentsBy

15_Jan_MarketscapeManhattan’s office market posted steep declines in vacancy, positive absorption and a 10-year high in new large block leasing activity by year-end 2014, according to JLL. 

Major themes for the year included the migration of large tenants to Lower Manhattan, record leasing activity in Midtown South and the continued rise of Midtown’s Trophy properties as both international investors and tenants take interest.

Manhattan’s overall… Read More

Traditional sectors regain top leasing activity

0 CommentsBy

Chart of the week: November 10, 2014

PowerPoint Presentation

  • Leasing activity in the legal and financial service industries has picked up year-to-date with seven out of the top 10 leases, compared to only three in all of 2013.
  • The TAMI sector continues to grow its share of leasing activity, despite a downtick in the sector’s share of the
  • Read More

Are real estate markets reconnecting?

0 CommentsBy

Colin Dyer, JLL President and CEO, and LinkedIn Influencer, on why leasing and investment markets are reconnecting across the world 

The below post was originally shared on LinkedIn by Colin Dyer.

Dyer, ColinA year ago, I wrote about the disconnect between commercial real estate investment and office leasing markets around the world, as investment sales surged while leasing volumes remained stalled. But I also said, “The good news is that there’s good reason for greater optimism next year…Business and consumer confidence should improve, and strong corporate balance sheets will support new capital expenditures.”

That, in fact, has been the case in 2014. Big corporate tenants were struggling with low revenue growth last year. That made them cautious, and many postponed occupancy decisions to focus on cost cutting and productivity measures. Today they are demonstrating greater confidence, and with it, greater willingness to spend and implement longer-term real estate strategies. As of mid-2014, global office net absorption was up 15 percent on the year before. Investment volumes increased 21 percent during the same period.

Why the new life on leasing?

Read More

TAMI tenants lead large lease activity YTD

0 CommentsBy

New York Chart of the Week: October 6, 2014

PowerPoint Presentation

  • TAMI (technology, advertising, media, information) tenants have dominated large lease activity (leases greater than 100,000 square feet) YTD. TAMI accounted for 39.4 percent of all large leases signed compared with 20.7 percent of activity just one year ago.
  • Through Q3 2013, FIRE (finance, insurance, real estate) tenants
  • Read More

Chart of the Week: Financial services sector continues to account for most leased space

0 CommentsBy

New York Chart of the Week: July 21, 2014

PowerPoint Presentation

  • A number of large leases enabled the financial services sector to solidify its place in the top spot in terms of leasing activity YTD.
  • Despite stagnant employment growth and increased regulation, the sector—long dominant in office leasing—captured almost one-third of YTD leasing activity compared with 21.7 percent
  • Read More