June 15, 2017
More than half of the companies that moved their offices to Downtown Manhattan from other parts of New York City are technology, advertising, media and information companies (TAMI).
Downtown office developers depend on this internal migration. The absorption of office space is strongly correlated with it.
“As a large share of employment gains since 2008 have been in these sectors, and given inbound migration’s strong correlation with absorption, the future growth of TAMI sector employment will likely determine Lower Manhattan’s market strength in the coming years,” according to JLL.
For comments, questions or concerns, please contact Bendix Anderson