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Composition of new entrants highlights Downtown’s value proposition in the market/405/new-york-city-10-16-2017-composition-of-new-entrants<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-office-dark-sky.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/405/new-york-city-10-16-2017-composition-of-new-entrantsComposition of new entrants highlights Downtown’s value proposition in the market​Midtown South-based companies represent the majority of relocations to Downtown in 2017―a testament to Lower Manhattan’s thriving culture and relative value.
Books and home furnishings most impacted by e-commerce/385/new-york-10-9-17-e-commerce-impacts<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/retail-education-books.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/385/new-york-10-9-17-e-commerce-impactsBooks and home furnishings most impacted by e-commerceAccording to a recently released JLL Retail Research report entitled “Bagged or Boxed: The Future of 13 Retail Categories”, books and other gifts is the category most heavily affected by the impact of e-commerce, with online transactions accounting for 24.6 percent of their 2016 revenue.
Manhattan office development sales activity pushes ahead while other property types waver/372/manhattan-office-development-sales<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/interior-office-empty-workstations.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/372/manhattan-office-development-salesManhattan office development sales activity pushes ahead while other property types waver​Land / development sales activity has slowed thus far in 2017 compared with recent levels—following a macro trend—though office investments have already exceeded the recent annual historical high.
Financial services recovers all jobs lost since the recession/350/new-york-9-25-2017-financial-services-recovers<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-modern-glass-looking-up-sky.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/350/new-york-9-25-2017-financial-services-recoversFinancial services recovers all jobs lost since the recession​While jobs in the city’s creative and business services sectors rapidly recovered after the recession, employment growth in financial services—one of Manhattan’s key office demand drivers—has lagged.
TAMI hub Midtown South sees surge in FIRE and PBS leasing, indicating the market’s desirability/335/new-york-9-18-2017-tami-hub-midtown-surge<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-australia-sky-looking-up.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/335/new-york-9-18-2017-tami-hub-midtown-surgeTAMI hub Midtown South sees surge in FIRE and PBS leasing, indicating the market’s desirabilityAs new and expensive product enters the Midtown South market, traditionally high paying tenants—the FIRE and PBS sectors—have relocated to the TAMI hub at a higher frequency than years past.
Hudson Yards/Manhattan West update: New and improved product continues to draw from Midtown/319/new-york-9-11-2017-improved-product-draws-from-midtown<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/buidling-office-reflection-exterior.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/319/new-york-9-11-2017-improved-product-draws-from-midtownHudson Yards/Manhattan West update: New and improved product continues to draw from MidtownAs Hudson Yards/Manhattan West takes shape, more and more traditional Midtown tenants have committed to the new and renovated quality spaces on the far west side.