Snapshots

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

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