Tag Archives: office development

Midtown East rezoning to spur development of new office towers

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The Midtown East rezoning deal struck between the New York City Council (Land Use Committee) and the de Blasio administration not only allows for new construction of approximately 6.5 million square feet of office space within the 78-block area around Grand Central, but is also intended to generate a minimum of $61.49 per square foot, or 20 percent of the… Read More

U.S. office sector posts lowest vacancy rate of the recovery

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JLL has released its Q3 2014 United States Office Outlook

Q3USreport_blogOverall, the outlook for the U.S. economy is positive, with businesses continuing to invest more in people and products. Economic momentum is picking up, and tenants are continuing to expand.

On the investment sales side, activity is up 38 percent year-to-date, and investment profiles diversified. Most of the large deal flow was heavily concentrated in… Read More