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Joe Harbert at Michael's on Oct. 4, 2011
Manhattan office leasing is 5.3M SF ahead of last year's pace, Cushman & Wakefield NY COO Joe Harbert said at Michael's restaurant yesterday (this is the 29th time he's given a quarterly market update, he tells us). Law firm leasing has slowed while info and media firms are stepping it up. And large deals are coming on faster, with 29 in the first half of the year and seven in Q3 alone. Midtown South vacancy, at 6.1%, is the lowest in the country.
Joanne Podell and Suzy Reingold at Michaels on Oct. 4, 2011
C&W's Joanne Podell (here with Suzy Reingold) says she's marketing retail space at 23 Wall, adding that Downtown is the fourth biggest CBD in the country. That's the place to be for retailers that want to grow, she says, with 56,000 residents and 300,000 working in the neighborhood. Oh, and don't forget the tourists (four words you rarely here uttered by locals.)
Related Topics: Joanne Podell