Snapshots

Hudson Yards and surrounding developments leasing drives “Silicon Valley East” in New York City

Hudson Yards and the surrounding district have always been slated to attract a variety of tenants, but 2019 has proven to be a monumental year

December 18, 2019
  • Hudson Yards and the surrounding district have always been slated to attract a variety of tenants, but 2019 has proven to be a monumental year for tech and creative company growth: both the district and the city
  • Driven by net-new expansionary requirements, seven leases – totaling 3.8 million square feet of leasing activity and 3.3 million square feet of net absorption – were signed just this year in the district
  • Other mainstay traditional tenants such as business and legal services have actually consolidated in the area following industry real estate trends prevalent throughout the city
  • With expansionary needs for tech and creative firms fulfilled in Midtown West, anchor-sized opportunities in the district remain tight until the next wave of developments in 2021
  • To date 9.9 million square feet of office product has been delivered in Hudson Yards, Manhattan West and surrounding developments; more than 24.0 million square feet are to follow
  • Note: *Other denotes Government, Non-profit, Apparel/Textile and Flexible Space Providers
  • **Manufacturing also includes Pharmaceutical companies 

Source: JLL Research

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