News
OFFICE ON THE UP
July 7, 2011
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| Great news from the office sector: There’s been a significant increase in large office leasing transactions YTD, with 21 100k SF leases signed through May, according to Cushman & Wakefield’s latest research. Last year, there were only 17 transactions in the same size range through the first five months, and in ’09, only nine. Overall, new leasing transactions have totaled 14.2M SF, a 35% jump from this time last year. Leases signed so far in 2011 include Condé Nast’s 1M SF at One World Trade Center, the City of New York’s 619k SF at Four World Trade Center, LF USA Capital’s 482k SF at 350 Fifth, Lazard’s 420k SF at 30 Rock, and Bloomberg’s 402k SF at 120 Park. Check back next week for Q2 insight (we feel like a one-stop data shop) from Cushman & Wakefield, CBRE, and Massey Knakal. |
