New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Brooklyn Office Boom Coming Up Short
May 5, 2017
So far, few big name companies have been moving to Brooklyn office space — despite quite a lot of development.
Not one non-government employer has signed a lease for more than 100,000 square feet, a typical minimum size for a building’s anchor tenant, since mid-2015. Developers have seven-million square feet of new office space planned.
“It’s going to take a little bit longer than some observers may think” for new office properties to be fully leased, said Zev Holzman, senior managing director at Savills Studley, to BloombergMarkets. “The tenant pool is not that deep. It’s not there yet.”
For comments, questions or concerns, please contact Bendix Anderson
Subscribe to Connect Daily New York - ◦Development
