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NY Chart of the Week: Will The Presidential Election Take Its Toll On Manhattan's Office Market?
The 2016 Presidential Election is in full swing, the uncertainty of the election could be a major blow for skittish Manhattan office tenants. According to JLL Research, the last two presidential election years have seen a drop in new leasing activity, especially among those who use spaces 100k SF or greater. The uncertainty of the political environment, JLL says, causes tenants to either wait or renew, but, since many tenants can't afford to put off their big real estate decisions, a rise in renewals can still be expected in 2016.
