Top Midtown Office Lease Revealed: New Research from JLL

Companies can’t get enough of the Class-A office space in Midtown Manhattan — 24 of the top 26 office leases signed in the past year in Midtown claimed Class-A office space, according to new research from JLL.

“Five of the top seven leases signed in Midtown in the fourth quarter took place at newly-constructed or renovated offices,” said Sean Coghlan, director of Americas research for JLL. “Tenants have increasingly concentrated on high-quality buildings in amenity-rich locations, which caused Midtown’s Class-A vacancy rate to decrease four quarters in a row to 10.1 percent.”

Top leases signed in Midtown in the fourth quarter of 2017 include:

– EY relocating to 604,295 square feet at 1 Manhattan West

– Bank of America Corp. expanding its local presence by 386,000 square feet at 1100 Avenue of the Americas

– Ann Inc. renewing its 300,000 square feet at 7 Times Square

– Mizuho Americas expanding by 270,000 square feet at 1271 Avenue of the Americas

– Shiseido Co. Ltd. relocating into 225,818 square feet at 390 Madison Ave.

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