Category Archives: New York office market

Life sciences poised for rapid growth in NYC

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New York City is emerging as a leading destination for biotech startups and the larger life sciences industry. As illustrated in our New York research Snapshot chart this week, New York City now ranks second in life sciences funding from the National Institutes of Health (NIH), receiving $1.63 billion in 2016 (see chart below).

The Bureau of Labor Statistics estimates that more than 1,000 life sciences companies are located in the New York metropolitan area, with… 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 fundamental practice of… 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 foster interaction, increase… 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 a period of… Read More

JLL’s Dana Robbins Schneider Moves NYC to a Greener Future

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Climate change is one of the greatest challenges facing our generation, and JLL’s Dana Robbins Schneider has partnered with the City of New York through #OneNYC to reduce our footprint on the environment.

At the beginning of 2015, the City of New York brought together leaders from the real estate industry, engineers, architects, academics, and affordable housing experts to form the Technical Working Group (TWG). The group was gathered to develop a plan to achieve… Read More

Trend Spotting: Co-working Corporates, Part I

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If you opened a door in your office, and found 20,000 square feet of empty, unused space, what would you do with it?

“Use space as a differentiator. This is an increasingly popular trend in real estate. People are taking their spaces and using them for co-working in order to distinguish themselves and their working environments.” says Senior Vice President of Workplace Strategy at JLL, Phil Kirschner. Reliance on technology is increasing due to the Fourth Industrial Revolution taking hold in New York City, meaning that the workforce must be even more technologically-savvy than ever. As the workforce transforms into a younger demographic with a different skillset, they begin to dictate real estate trends.

Young women working at home office or co-working space

Young women working at home office or co-working space, courtesy of Thinkstock

These younger “techies” are not used to being tethered to a desk, stuck in an office building from 9 to 5. Rather, … Read More

Trend Spotting: Presidential Election Years

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Presidential Election Years and New Activity in Manhattan JLL research

By JLL New York, Research

We often hear that Wall Street dislikes uncertainty, but Manhattan office tenants don’t appear to like it either. The last two presidential election years have coincided with a drop in new leasing activity, especially among large users—those 100,000 square feet or… Read More

Retail Round-Up!

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With ICSC #NYnDM taking over the Javits Center in New York this week, we thought we would do a round-up all things retail news…

Podium on fashion showCHECK OUT: Retail Runway…

JLL’s retail blog takes a look at the retail runway at ICSC New York and highlights the three major themes. What’s the great news for New York City? Urban store presence and Health and Fitness are #1… Read More

Connecting #NYCTech to Work Spaces in New York City

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Image of the square:TECH homepage

JLL’s the square:TECH a new microsite designed to connect tech companies with workspaces in New York City

New York City has the fastest growing tech community in the United States. New York’s “Silicon Alley,” the aptly named, ever-expanding tech community, is often compared to the West… Read More

Hudson Square leasing Activity Doubles

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COW_New York_Jul_16_2015_Hudson_cropped forwebpg

  • Hudson Square was the only Midtown South market to post a positive change in leasing activity—increasing 115.3 percent—from first half 2014 to first half 2015, accounting for 22.2 percent of activity in Midtown South year-to-date.
  • Partly attributable to the significant rezoning laws passed in 2013, demand for the area has flourished as
  • Read More