NEW YORK, NY, Aug. 31, 2011 /PRNewswire/ -- Jones Lang LaSalle data demonstrates the groundwork has been laid for Lower Manhattan's next great transformation 10 years past the September 11 tragedy.
Having weathered a volatile economy and ongoing cycles of recovery, rebuilding and consolidation, Lower Manhattan is poised to capture demand not witnessed since the beginning of the previous century.
According to Jones Lang LaSalle's report, "Lower Manhattan 10 Years Later," although the historic district remains the home of Wall Street, local government, professional services, media and technology firms will occupy a greater share of Lower Manhattan office space going forward.
"The confluence of a number of encouraging trends will have a tremendous effect on Lower Manhattan in the next 10 years," said Peter Riguardi, president of Jones Lang LaSalle's New York region.
"Along with the entire city, Lower Manhattan will continue to benefit from the continued migration of a highly educated, creative workforce to urban centers.
“In addition, the Lower Manhattan submarket has evolved beyond its traditional reliance on financial services to become the preferred home of creative industries and professional services firms, which are adding to the vitality to the area."
For a complete copy of the company’s news release, please contact:
Mark Faris, both of Shea Communications, +1-212-627-5766; or
Web Site: http://www.joneslanglasalle.com
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