May 2, 2017
Companies signed leases for a huge amount of office space in Downtown Manhattan in the first quarter of 2017. It was the strongest first quarter of Downtown office leasing since 2000, according to JLL.
In just one quarter, companies signed leases equal to 55% of the total square footage leased in 2016.
Of those leases, 86% were for Class-A office space, as millions of square feet continue to fill up in new Downtown office towers. Five of the 10 largest leases in Manhattan in the first quarter were signed Downtown, accounting for 1.5 million square feet. All five of those largest leases Downtown were for Class-A office space.
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