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Migration to Lower Manhattan drives absorption

With the lone exception of 2012, inward migration of office tenants to Downtown has been strongly correlated with absorption in the market.

Of inbound tenants since 2012, over 50 percent fall within the TAMI (technology, advertising, media, information) sector.

As a large share of employment gains since 2008 have been in these sectors, and given inbound migration’s strong correlation with absorption, the future growth of TAMI sector employment will likely determine Lower Manhattan’s market strength in the coming years.

Source: JLL Research

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