Brooklyn and Long Island City office outlook - Q2 2019

Value proposition of the outer boroughs continues to attract varied tenant industries and developers, capitalizing on the market’s transforming mixed-use environment.

August 13, 2019

Tenants from varied industry segments continue to seek value in the outer boroughs, where new construction is offered at a significant discount to Manhattan alternatives. Notable tenants that made relocation commitments to the outer boroughs in the second quarter include Rent the Runway and Magellan Health Services. Developers have taken notice and are increasingly capitalizing on growing demand in districts such as the transit-oriented Downtown Brooklyn submarket.

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