First look: More top office leases were renewals than new deals

That's a big shift from 2019, when 68% of the top 100 were new leases and 32% were renewals. What's happening: Employers around the country are shrinking their office footprints and looking to ...

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First Look: More Top Office Leases Were Renewals Than New Deals

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That's a big shift from 2019, when 68% of the top 100 were new leases and 32% were renewals. What's happening: Employers around the country are shrinking their office footprints and looking to ...

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U.S. Sees Uptick In Office Lease Signings, But For Less Space On

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Sep 17, 2024 · The average lease size decreased more for new deals (32%) than for renewals (21%) in H1 2024 compared with the pre-pandemic average. With a higher share of lease …

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58% Of Top Office Leases Were Renewals In 2023: CBRE

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Feb 9, 2024 · Dive Brief: Renewals accounted for 58% of the top 100 office leases in 2023, marking a reversal from 2022 when new leases “dominated,” according to recent research …

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Office Leasing Activity Expected To Continue Upward Climb Into …

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Sep 19, 2024 · More than 92% of occupiers with more than 10,000 employees were considering executing a lease renewal while less than half of small occupiers with fewer than 1,000 …

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U.S. Office Recovery Continued In Q3, Led By Renewals: CBRE

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Nov 12, 2024 · Renewals have exceeded 40% of total leasing activity for the past six quarters, whereas lease renewals made up an average of 31% of leasing activity per quarter in 2018 …

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Office Leasing Returns To Pre-pandemic Levels In Manhattan - New …

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Jan 17, 2025 · JLL reported overall leasing hit 30.2 million square feet and was the most since 2018 with a vacancy of 18%. A record 28 deals were signed above $200 per foot with 212 …

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Lou Peralta On LinkedIn: First Look: More Top Office Leases Were ...

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58% of the 100 largest office leases by square footage in 2023 were renewals, per a new report from CBRE. That's a big shift from 2019, when 68% of the top 100 were new leases and 32% …

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Manhattan Signs Record Number Of $100-Plus Office Leases, JLL …

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Jan 8, 2024 · The office vacancy rate in both New York and the United States has each surged to record high levels of more than 14%. “Despite fragility in the broader market, top-tier leasing …

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Tech Insights: Growing Tech Industry Leads U.S. Office Leasing

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Total leasing activity, which includes both new leases and renewals, for the year was up 50% for tech companies and 27% across all sectors. ... 53% more than the 9.1 million sq. ft. leased in …

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Smaller Deals & Tech Dominate Top 100 Leases In 2020 - CBRE

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The drop was in line with the 36% decline in overall U.S. office leasing due to a pullback in new tech and financial services leasing and smaller average lease sizes for most industries. …

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FAQs about First look: More top office leases were renewals than new deals Coupon?

Why did most office leases get renewed last year?

Data: CBRE; Chart: Axios Visuals Most of the biggest U.S. office leases got renewed last year, according to a new report first shared with Axios. Why it matters: Instead of locking down a new space, many companies are staying put as they continue to adjust to a workweek that's part remote, part in-office. ...

How many office leases were signed in 2023?

The largest 100 U.S. office leases signed in 2023 included more renewals of leases for already occupied space than new deals, according to a new report from CBRE. CBRE’s analysis found that 58% of those leases – by number and by square footage – were renewals of expiring leases for the same space. ...

What was the biggest trend in office leasing in 2023?

“The largest 100 leases of the year often reveal trends that apply to the broader office market, and a dominant trend in 2023 was containing costs amid an uncertain economic outlook,” said Mike Watts, CBRE President of Americas Investor Leasing. ...

Why are top 100 leases in Class A & Class A+ buildings so popular?

The prevalence of top 100 leases in Class A and Class A+ buildings underscores an ongoing flight to quality in which companies prefer higher quality space in better locations in part to provide additional motivation for employees to work from the office more often. ...

What is the average size of a lease in 2023?

In addition, the average size of leases within the top 100 for 2023 was 267,558 sq. ft., down 12% from the 2022 average. Meanwhile, three quarters of the cumulative square footage of the largest 100 leases came in higher quality, Class A and Class A+ buildings. ...

How much did JLL lease in 2018?

JLL reported overall leasing hit 30.2 million square feet and was the most since 2018 with a vacancy of 18%. A record 28 deals were signed above $200 per foot with 212 above $100 per foot. Leases for two full floors at Stefan Soloviev’s 9 W. 57th St. with Tikehau Capital and Platinum Equity were among those signed at over $200 a foot. ...