The top 25 office tenants in Manhattan take up more than 56 million square feet of space, and JPMorgan Chase occupies more of it than any other company, according to a TRD analysis of CoStar Group data. The firm’s 4.67 million square feet of occupied space is just ahead of another financial titan, Citigroup, which takes up 4.49 million square feet. But the biggest holder of New York office space is the city itself — 7.22 million square feet in 2015.
Of the top ten office tenants, six are banks, three are government agencies or institutions, and one is a media company (Viacom). Tenants 11-25 are also predominantly media (Bloomberg, NBC) or financial (Credit Suisse, Ernst & Young). One ranking tenant that does not fit either of those molds is the co-working office space provider WeWork, which is now the 16th largest lessee of office space in Manhattan, with 1.44 million square feet occupied. Moreover, WeWork has laid claim to hundreds of thousands of additional square feet that it will occupy soon, and that doesn’t count their locations in the outer boroughs. In January, commercial brokerage Newmark Grubb Knight Frank pegged WeWork’s city-wide lease obligations (pending and active) at 2.8 million square feet.
To see the complete office tenant ranking, visit TRData. – Will Parker
Manhattan’s biggest office tenants, by sq. ft. occupied RankTenantSq. ft. occupied 1New York City7,224,413 2JPMorgan Chase4,665,786 3Citigroup4,493,016 4Morgan Stanley4,263,571 5New York State3,315,745
To see the complete office tenant ranking, visit TRData.
Adam Pincus contributed reporting.
Source: The Real Deal