NEW YORK CITY—Colliers International's May 2018 report shows Manhattan office leasing volume up 18% to 4.17 million square feet, compared to April 2018, which reached 3.53 million square feet. Compared to May 2017, when .42 million square feet of office space was leased, the numbers indicate an office leasing increase of 82.7%.
Colliers International's executive director, Craig Caggiano, says that Q1 2018 ended with modest numbers for leasing activity. The leasing numbers for the first two months of Q2 has already exceeded the total for Q1 2018.
In a joint interview with GlobeSt.com, both Caggiano and managing director of research, Franklin Wallach, warn the numbers do not necessarily point to trends. “A few deals can always really move the needle for a leasing month or quarter,” says Wallach.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
