Tag Archives: new leases

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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New leases led top activity in 2014

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New York Chart of the Week: January 5, 2015

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  • With business sentiment ending 2014 at a record high, decision makers opted for new leases over renewals. New leases accounted for 65.0 percent of the top 20 Manhattan leases in 2014, compared to only 25.0 percent in 2013
  • Large leasing activity slowed in 2014 as the top
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Traditional sectors regain top leasing activity

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Chart of the week: November 10, 2014

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  • Leasing activity in the legal and financial service industries has picked up year-to-date with seven out of the top 10 leases, compared to only three in all of 2013.
  • The TAMI sector continues to grow its share of leasing activity, despite a downtick in the sector’s share of the
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Relocations invigorating Downtown market

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New York Chart of the Week: August 4, 2014

PowerPoint Presentation

  • Relocations have represented a substantial—and growing—proportion of leasing activity in the Downtown market in the post-recessionary period. In fact, it appears likely that between 50 to 60% of new leases will be comprised of relocations in the near-term.
  • These tenants represented only 39.8% of new leases in
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Chart of the Week: TAMI tenants further Downtown growth

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New York Chart of the Week: June 23, 2014 

PowerPoint Presentation

  • Highlighted by the recent 669,832-square-foot Time, Inc. relocation from Midtown to 225 Liberty Street, technology, advertising, media and information (TAMI) tenants have helped reshape the Downtown landscape
  • These tenants have been attracted to the market’s high-image space and comparatively low rents relative to Midtown and Midtown South;
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Manhattan Monthly Update | June 2014

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MMU_Jun14_final

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:

Midtown Manhattan
Strong leasing led to positive absorption and lower vacancy in Midtown in May, though the average asking rent slipped due to the introduction of… Read More