Manhattan posted its strongest quarterly office leasing volume since year-end 2019 in the third quarter with a 26% increase to end the quarter at 9.23 million square feet, according to Colliers.

Year-to-date leasing volume totaled 24.17 million square feet, a nearly 50% increase over the 16.34 million square feet leased during the same period in 2021 and Colliers expert say that if leasing volume were to continue at the same pace for the remainder of the year, 2022’s full-year leasing volume would surpass 2021’s full-year total (24.96 million square feet) by 29.1%. Net absorption clocked in at a positive 4.13 million square feet.

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Lynn Pollack

 

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