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With monthly leasing activity in the Big Apple having increased while seeing lower leasing volume year-over-year, the latest Colliers International Manhattan Monthly Snapshot for May 2020 is decidedly mixed.
The coronavirus pandemic is accelerating innovations in supply chains, such as "contactless everything," robotics in warehouses, more cold storage warehouses, and autonomous vehicles for delivery.
CBRE Group found that the amount of office space available for sublease in Manhattan has declined, despite a high number of office job losses in connection with the pandemic.
A slowdown in sale and lease transactions is expected but overall metrics such as the vacancy rate and asking rents remained flat in the first quarter of this year, a study showed.
There was only one metric that got worse from April to May: The number of respondents who see delays in financing. Otherwise, coronavirus impacts on projects got slightly better for every metric that the survey measured.