Snapshots

Strong demand by creditworthy firms validates longevity of healthy market fundamentals in New York

Tightened local and national labor market conditions have incentivized creditworthy firms to establish, grow or maintain their presence in Manhattan.

October 09, 2019
  • Tightened local and national labor market conditions have incentivized creditworthy firms to establish, grow or maintain their presence in Manhattan.
  • As a result, 42.8 percent of Manhattan large-block leasing activity since 2015 has been driven by Fortune 500 and Am Law 200 companies
  • Leasing by these occupiers has grown at an annualized rate of 24.6 percent from 2015 to 2019, with several additional major active requirements in the market 
  • This demand better positions the Manhattan office market to endure potential economic headwinds. 

Source: JLL Research

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