Manhattan Leads in Share of 2021’s 100 Largest Office Leases
Manhattan once again led in share of the 100 largest U.S. office leases last year, CBRE reported. The borough accounted for 15 of those leases, compared to nine each for Washington, DC and Boston, with the latter city leading the way for new leases.
Tech companies accounted for 36 of those top 100 leases, up from 18 in 2020. CBRE reported. Although Manhattan got a share of those tech deals, its top sector for large leases was education and healthcare.
“The tech sector has played a big role in office-leasing activity in recent years, and it rebounded in 2021 to rival its pre-pandemic activity,” said Manish Kashyap, CBRE global president of advisory & transaction services.. “Overall, office leasing in the U.S. was up nearly 27% last year, and several other indicators of the market’s performance turned positive late in the year. The tech industry is the big engine there.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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