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Technology companies dominate office-leasing activity in 2019
Research - FEBRUARY 19, 2020

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Technology companies dominate office-leasing activity in 2019

by Andrea Zander

Technology companies dominated overall office-leasing activity in 2019, accounting for 21.9 percent of space leased in U.S. offices, according to CBRE. But of the nation’s largest 100 leases last year, 32.4 percent or 13.1 million square feet were by tech companies. Other industries with larger shares of the top 100 leases vs. their shares of overall leasing activity were energy (7.2 percent vs. 3.1 percent) and government & non-profits (11.2 percent vs. 6.7 percent). At the other end of the spectrum, business services and flexible office operators (co-working) were underrepresented in the top 100 leases compared with their shares of overall 2019 leasing activity.

Nearly three-quarters of the top 100 leases were in 10 markets. Manhattan led with 23 leases totaling more than 11 million square feet, or 26.8 pe

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