Source: The New York Observer
The number of firms looking for at least 150,000 square feet in Manhattan, and the number of buildings that can accommodate them, could more or less now each be counted on one hand reports The New York Observer. Some contend that the number continues to shrink as the economy worsens. Other’s say there’s always a small universe of big players. Either way, brokers say they find themselves chasing after the same few lookers again and again.
July 31st, 2008 at 10:27 am
I am not entirely sure that a few companies seeking at least 150,000 square feet in office space is a sign of a worsening economy. It may just be a sign of an economy less dependent on huge corporations and more dependent on smaller businesses. The sign of the times appears to be diversity of businesses rather than monopolies.
July 31st, 2008 at 10:30 am
I completely disagree. Large corporations seeking lots of office space equals healthy economy. Corporations get big because of demand. A lack of large corporations mean less demand and less money.