“New developments are drawing more attention, particularly from retailers that are looking to develop a presence in Brooklyn as an extension of their Manhattan mainstays,” says REBNY president John Banks.
This is the region's eighth consecutive year of positive absorption, with very little new supply added to market, causing vacancy rates to tighten and rental rates to rise, JLL's Tony Russell tells GlobeSt.com.
Bank of America Center remains one of the most recognizable, iconic structures and continues to be competitive for prestigious tenants in Houston, including TransCanada which recently expanded there.
With the aging population often in need of healthcare products to be delivered, more companies are adding space to accommodate operations, leading a medical company to lease Lower Tollway space.