NEW YORK CITY—Cushman & Wakefield has launched C&W TechBeat (www.cushwaketechbeat.com), a website that will serve as a tool for technology startups and creative companies by offering the latest information, reports and trends on the Manhattan commercial real estate market.
C&W TechBeat, designed in-house by Cushman & Wakefield marketing and research professionals, offers a full spectrum of information, from up-to-date statistics on Manhattan's three main submarkets to information on the real estate needs of an evolving startup and the latest TAMI (technology, advertising, media and information businesses) lease transactions. Cushman & Wakefield will be expanding the website, offering the same tools to other key technology markets.
“This tells owners what a tenant's hot button issues might be and it shows what stage a technology firm might be in, allowing landlords to tailor leases,” senior director Jamie Katcher tells GlobeSt.com. “We're in such early stages of the growth of this sector so we need to embrace it and we need to align to the sector's business drivers.” The site will be updated regularly with new statistics, industry information and a “tech tenants on the move” feature.
Says Ron Lo Russo, president, New York tri-state region, “When we set out to create a new resource to help startups and existing creative companies with their real estate needs, we knew it had to be innovative and ahead of the curve. What we have created is a living, breathing, constantly evolving web presence, where you can go for an update on what's trending in real estate for creative companies, from the hottest neighborhoods and tech-friendly buildings to the latest information on which companies are 'on the move.' We believe this will serve as a fantastic tool.”
Adds Katcher, “Every tech client faces unique real estate-related challenges. By putting forth this innovative web-based report, C&W is bolstering our role as valued advisors to clients at all stages of their life cycle.”
Manhattan has become a technology hub for businesses of all sizes— second only to Silicon Valley in San Francisco, according to Cushman. The Midtown South submarket, often referred to as “Silicon Alley” for its desirability among TAMI companies, continues to be the tightest of all the Central Business Districts in the nation, with a vacancy rate of 8.2%. The submarket has an average asking rent of $59.81 per square foot, a 14.2 percent increase year-over-year.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
