The real estate firm predicts that the continued growth of such companies will fuel demand for repositioned B and C buildings, if they "adequately accommodate these firms' high-tech needs," says Tonia J. Williams, the M&M executive who headed the research.
Manhattan's direct overall vacancy is curently less than 6% according to the firm's stats, and rents, now at $43.96 per foot, have enjoyed three years of increases.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
