Real Estate
Manhattan Office Leasing Posts Strongest Start Since 2014
- Tenants were busy in January and February, CBRE data show
- Share of available office space has declined to 18.4%
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Manhattan’s office leasing is off to its strongest start to a year in more than a decade, a positive sign for the beleaguered market.
In January and February, the amount of space leased totaled 5.13 million square feet (476,600 square meters), the most for that two-month period since 2014, according to a CBRE Group Inc. report that measures new deals, expansions and pre-leasing. In February alone, leasing was about 1.5 times more than the five-year monthly average.