Anchor Tenants Are Disrupting Manhattan’s Office Market—in a Good Way
Top corporate names are signing for new space years in advance, freeing up much-needed square footage while at the same time boosting rents.
A handful of high-profile developers are moving forward with huge premier office projects in Manhattan, mostly in Midtown, and they’re all negotiating with anchor tenants, mostly financial services, tech and law firms.
For example, in April, financial advisory firm Deloitte agreed to lease 800,000 square feet at 70 Hudson Yards, a more than 60-story, 1.1 million-square-foot office skyscraper being developed by Related Companies and Oxford Properties on Manhattan’s West Side.
Author summary: Anchor tenants boost Manhattan office market.
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