Big Blocks of Office Space, Pay More for Less

26th December, 2013 - Posted by Jeffrey S. Weil, MCR.h, SIOR - No Comments

Big block office space and big rents- reports out predicting Manhattan will see 60 or more 100,000+ square foot office deals in 2013, with 46 of these over $100/sf for annual rents. Major tenants may be downsizing the square foot per employee ratio (from 250 square feet per employee down to 150-175 square feet per employee) thereby enabling justification of signing at top market new building rents. (NREI October 2013)

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