Category Archives: Research

Heightened demand and new developments have propelled the Meatpacking District to the top of the market

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  • 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
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Manhattan’s Class A office market finishes 2017 strong

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Class A office product dominated Manhattan in the last quarter of 2017, as detailed in the Q4 2017 Office Insight report recently released by JLL Research. This “flight-to-quality”… Read More

New York’s Fifth Avenue ranked #2 on 2017 Most Expensive Streets Report

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Where do office tenants pay top dollar, you may ask? According to the 2017 Most Expensive Streets Report, the Midtown Manhattan stretch of Fifth Avenue ranks number two on the list of the country’s most expensive streets.

Fifth Avenue, from 50th Street to 61st Street, came in second behind California’s Sand Hill Road in Menlo Park, recording an average asking rent of $116.04 per square foot with top asking rents as high… Read More

The Future of Work | Financial Performance

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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

How to find balance between work and play

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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

The Future of Work | Operational Excellence

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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

The Future of Work | Continuous Innovation

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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

Confidence continues in the Manhattan retail market

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REBNY Research reports that the Manhattan retail leasing market is proving to be an outlier against the national retail slowdown. Increased interest from retailers has spread throughout Manhattan, showing that there is confidence in Manhattan retail overall.

As the market’s natural retail correction continues, Manhattan rental rates for 72% of… 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

Employment Update: July 2016 from New York Research

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The JLL New York Research Team has released their latest report, the New York Employment Update, which is a monthly review and analysis of the local economy and the overall employment situation and dynamics.

Some highlights of the report include an employment pickup that occurred in June, piloted by an 8,000 job-expansion month-over-month. Total employment remains elevated by 1.9 percent year-over-year.

So what does this mean for commercial real estate in the Big… Read More