Category Archives: High Tech

One door closes, another opens – to opportunities

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Despite headlines about store closures, retail opportunity remains positive as new stores open and alternate paradigms emerge, especially in New York’s prime urban retail corridors.

In New York City’s upper Fifth Avenue shopping corridor, Under Armour will open its newest flagship store in 2018, in the former FAO Schwarz space vacated in 2015. Old Navy and The Gap will open flagships together in the former Toys “R” Us space in the Bow… 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

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

NYC captures bulk of state’s private sector job growth

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JLL New York Chart of the Week

COW_New York_May 7_V7

  • Of the 655,000 private sector jobs created in the state from 2004 to 2014, NYC accounted for 89.0 percent of net gains – making it an integral part of the state’s economy.
  • In 2014, 46.5 percent of the state’s private sector jobs were in
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Tech leasing gained momentum in February

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JLL NYC Research: March Tech Monthly

High-tech_blogJLL’s Tech Monthly reports on activity in New York’s tech sector, including employment growth, leasing activity, venture capital funding and companies hiring.

Key takeaways from our March update include:

  • Tech leasing gained momentum in February after soft activity in January (326,062 square feet compared with just 26,440 feet).
  • NYC tech start-ups raised $777.5 million in February, an increase in capital of 7.9
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Tech, tourism lead post-recession job growth

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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
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Is the Garment District losing its namesake tenants as TAMI moves in?

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JLL New York Chart of the Week

PowerPoint Presentation

  • The Garment District— historically home to the apparel and textile industry—has seen a rise in popularity with TAMI (technology, advertising, media and information) tenants in recent years.
  • Apparel and textile leasing activity declined 51.1 percent in 2014 following three years of steady growth.
  • The TAMI sector continues to grow its
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Tech sector accounted for 16.2% of Manhattan leasing activity in 2014

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JLL NYC Research: January Tech Monthly

High-tech_blogJLL’s Tech Monthly reports on activity in New York’s tech sector, including employment growth, leasing activity, venture capital funding and companies hiring.

Key takeaways from our January update include:

  • The tech sector accounted for 16.2 percent of Manhattan leasing activity in 2014, an increase of 4.9 percentage points year-over-year
  • NYC start-ups raised more than $5.0 billion in funding during 2014—a
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Midtown trophy rents at highest level in three years

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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

Number of large tech leases climbs

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High-tech_blogJLL NYC Research: December Tech Monthly

JLL’s Tech Monthly considers activity in New York’s tech sector, including employment growth, leasing activity, venture capital funding and companies hiring.

Key takeaways from our December update include:

  • After a dip in October, NYC tech employment ramped up in November, increasing by 5.7 percent year-over-year
  • Tech leasing regained momentum in November, posting 746,383 square feet of activity
  • As options in Midtown South
  • Read More