Tag Archives: absorption

Repositioned Brookfield Place Drives Downtown Absorption

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COW New York May 15 15

  • Formerly marketed as the World Financial Center, the downsize by Bank of America I Merrill Lynch at the 8.9 million-square-foot office complex resulted in a 2.6 percentage point increase in Downtown vacancy in 2012.
  • New leases by Time Inc., Hudson’s Bay, BNY Mellon, Jones Day, and others drove the
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Are real estate markets reconnecting?

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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?

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