New York Attracts Companies Moving Office
New York City has been placed top of Cushman & Wakefield's "Winners of Growth City" report which measures the biggest commercial real estate transactions against the world's largest cities.
New York comes top of the list against other US and global cities, with a 165% increase in commercial real estate investment in the year to Q3, knocking aside London to reclaim the top spot it held last in 2007. For companies planning an office move to New York City, it means a wider choice of office space, with plenty of office lease negotiating power when it comes to securing the right New York Office Lease deal.
The "Winning in Growth Cities" report identifies the largest and fastest growing cities in terms of commercial real estate investment, the difference in pricing, as well as demand and activity within individual sectors based on estimates for the year to the end of the third quarter.
The fundamental drivers of New York City's success cover a whole range of factors, ranging from classic business location priorities, through to softer factors such as image, liveability and cost. There's also the question of reputation and "city brand" status for many emerging companies, and New York seems to satisfy all these office space requirements for both investors and occupiers moving office.
London maintains the top spot for global office property investment, despite a marginal fall of 1.9% over the 12 months to Q3 2011. New York retains its second place but has significantly closed the gap following an increase of 189% to US$14.1 billion.
If you are considering an office move in New York, you need a good Tenant Rep Broker in New York to help you through the crucial process of finding New York office space. They'll have all the knowledge of what properties are coming onto the market, and the expertise to negotiate the best New York office deal on your behalf.
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