February 10, 2017
Technology is still a bright spot in New York City’s market for office space — particularly in the Midtown South neighborhood of Manhattan, where tech companies love to locate.
For the sixth year in a row, the Midtown South neighborhood — also known as Silicon Alley — has drawn more than half of all tech companies looking to lease office space in 2016, according to Colliers International’s “Manhattan Tech Research Report” for 2016. Tenants include Google, Facebook and Verizon, which all leased big spaces in Silicon Alley last year.
Only three blocks of space with more than 250,000 square feet available remain in the entire 165-million-square-foot Midtown South area. “This shortage of space over 100,000 square feet will surely create opportunities,” the Colliers report noted.
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