Class A office sales activity lags recent historical levels
Fewer Class A transactions have occurred throughout Manhattan since the investment peak in 2015.
October 02, 2019
- Fewer Class A transactions have occurred throughout Manhattan since the investment peak in 2015 as some owners of stabilized Class A office buildings opt to refinance given the highly liquid debt market.
- A greater proportionate share of sales has occurred in the value-add Class B and C segments as purchasers continue to seek high-yielding investments through asset repositioning strategies throughout Manhattan.
- A shifting demand profile has made $500+ million transactions more challenging to execute, though there is ample liquidity for smaller transactions.
Source: JLL Research