Postings

Tech Wasn’t Only Sector to Lease in Midtown South in 3Q12

postings for web1 Tech Wasnt Only Sector to Lease in Midtown South in 3Q12With all the talk about Midtown South’s incredibly shrinking vacancy rate, it’s easy to conclude that deals by a swarm of new-media companies, social applications and tech startups are at the heart of the market’s heralded rebound. But a closer look at third quarter leasing activity suggests that companies with long histories, like Estée Lauder, should take equal billing. Ken McCarthy, senior economist at Cushman & Wakefield, reviewed Midtown South’s third-quarter activity and explained why the market and its five submarkets performed so well in the last quarter and in the past 12 months.