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
Tech industry consistently proves to be a growth engine for NYC and key player in the strength of the office market.
JLL’s latest NYC Tech Monthly reported that New York City high-tech employment expanded year-over-year by 4,200 jobs or 7.0 percent in April—the largest expansion among all the major industries.
Other highlights of the report include:
- Tech venture capital funding continued to … Read More
JLL recently released its Manhattan Monthly Update, a monthly wrap up of leasing activity in Manhattan, along with Class A vacancy and asking rates. A submarket summary is as follows:
Strong leasing led to positive absorption and lower vacancy in Midtown in May, though the average asking rent slipped due to the introduction of new sublease vacancies… Read More
The share of STEM (Science, technology, engineering and math) degrees earned in the United States by foreigners is on the rise, but these graduates aren’t guaranteed residency upon graduation—unless they can find employer-sponsors.
With a limited number of H-1B visas available annually, and this talent pool in peak demand, companies are fighting to attract these bright, young professionals who are likely to stay loyal. View JLL’s infographic for more on the situation, and how real… Read More
Trends like collaborative workplaces, digitization of the workplace and growth strategies impacting the real estate market have radically changed how law firms use and think about office space.
Check out JLL’s new video for law firm trends, forces driving key markets, and what to expect in terms of real estate costs in the coming year.