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Giant Office Leases Dominate in 2017: CBRE Report

Companies signed giant leases in 2017, including 11 transactions for more than 250,000 square feet. All in all, 33 new leases or expansions of more than 100,000 square feet accounted for 8.2 million square feet of leasing activity last year, making up 29% of the 2017’s total leasing activity, according to the latest Manhattan Marketflash report from CBRE.

Giant new office towers leasing on the Far West Side of Manhattan made many of these giant deals possible.

“2017 provided tenants with the luxury of choice. Several new office properties came to market and existing buildings were brought into the modern age, complete with advancements in technology and amenity spaces dedicated to improving the workplace,” said Nicole LaRusso, director of research and analysis, CBRE Tri-State.

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