A Fresh Take on CRE

Forecasters change tune - for better AKA I'm Quoted in The Real Deal!

You can read the whole article here. Here are my quotes:


Michael Mandel -- an associate with commercial firm Grubb & Ellis who is representing several tech firms that are hunting for space -- said the "tech start-up scene is booming like never before."

"I track well over 100 tech start-ups that are actively growing and hiring new employees," he said.

Grubb & Ellis's Mandel, who is representing a 6,000-square-foot space, comprising the entire third floor of 390 Broadway, said the submarket south of Canal is attractive to creative users and non-office users such as yoga studios or gyms. He said those types of tenants are more interested in leasing spaces like the one he's representing in the five-story, 30,000-square-foot building, located between Walker and White streets.

He would not speculate on exactly how long it would take to lease the space, which has an asking rent of $28 per square foot.

"The space is pretty much 'white box.' I don't think it will take more than a few months," he said, and added, "We can be aggressive on the pricing."
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