Following a city-wide trend of shrinking store formats, the average size for ground floor available retail space decreased in nearly all the prime submarkets tracked in the first quarter of 2018, according to JLL Research in New York. The lone exception was in Lower Fifth Ave, where it remained the same.
Manhattan saw more financial technology (fintech) leasing in 2017 than it had in the previous three years combined, indicating the industry’s significant growth potential. Fintech tenants signed 877,171 square feet of leases last year, led by JPMorgan Chase (JPMC) and Mastercard, which both signed leases for their technology-oriented operations groups. JPMC took 428,365 square feet at 5 Manhattan West while Mastercard took 212,500 square feet at 150 Fifth Avenue.
JLL unveiled its Global Food Trends report at ICSC’s Food for Thought conference in New Orleans this week, presenting the results of its search for the world’s biggest innovations in food service. With Americans now spending more on dining than groceries, these mega trends are set to shape the retail, food and beverage industries of tomorrow.
Experience Economy: The aspiration of experience over ownership
- Dinertainment: Consumers are looking for ways to incorporate more … Read More
- 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 … Read More
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
In the fifth and possibly most challenging dimension of JLL’s Future of Work Model to successfully navigate, Financial Performance is positioned as a growth lever, not just an opportunity to minimize capital costs. While securing the lowest cost when negotiating a real estate transaction is a valid standard to measure success, JLL encourages stakeholders to employ real estate as a human-centered workplace to drive high performance, productivity and maximum return on… Read More
In recent years companies have been trying to inject more of the fun factor into the workplace: Slides instead of stairs, swings to help creative ideas “flow,” and game rooms packed with lunchtime entertainment options.
What began as a tech industry trend has gone mainstream. More companies are creating playful space to help people unwind, engage and think outside the box. While modern office design and perks may provide a unique conversation… Read More
In less than two weeks, New York City is hosting the largest marathon race not only in the US, but in the world. How fitting since NYC also hosts one of the largest corporate races you participate in daily – the race to be the front-runner in your industry. And as New Yorker’s, we know you not only want to compete, you want win, every single day. And to do this,… Read More
Accommodating the Liquid Workforce
How do you mesh today’s workforce of employees and freelance staff to create an environment that empowers the entire team and infuses your brand and culture? How can you make a flexible workspace while still creating a sense of belonging? And what mix of work areas will best empower freelancers without sacrificing a sense of ownership for full-timers?
While there is no one-size-fits-all answer, a workplace designed for a… Read More
No organization or industry is immune to the rapid, and accelerating, pace of change we see happening across business and society today. Unprecedented innovation in technology is forcing seismic shifts in how we live and work. It’s also driving a transformation of corporate real estate.
Now more than ever, real estate can enable an organization to achieve its ambitions. To help with this, we are excited to introduce our JLL proprietary model… Read More