^ Yikes is right. That’s why so many new office buildings are being built. Nobody wants that old, outdated office supply. There’s an opening for more redidential conversion, but the state dropped the ball on that one. And even then, only the oldest of buildings are more suited to conversion, due to zoning regulations for housing. That being said, the run to newly built space will continue.
Quote:
”Since we opened a market suite at One Vanderbilt we have had tenants with leases expiring for 14 million square feet come to see our plans,” he said. “They want to be in the best buildings, close to public transportation, most efficient floor plates, and air and amenities.”
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14 million square feet of lease expirations will have to go somewhere (some will have to stay put), but only a fraction could fit here.
I would like to see that marketing suite though.
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