Long Island office market reports
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The Long Island office market is poised to continue to struggle as supply additions are likely to surpass leasing activity. COVID-19 complications have caused office leasing to reach a recent historic low, although demand is likely to incrementally increase in the next few quarters as tenants cement their long-term occupancy strategies and begin to navigate the market with more conviction.
Unemployment rate on Long Island is down from a post-COVID high of 17.5 percent.
Annualized rate of leasing activity has decreased since the pandemic compared with the 20-year historical average.
The total amount of vacant sublease space (in square feet) on the market on Long Island is comprised of 11.5% of total vacant space.
Total office investment volume (in billions) on Long Island during the period from Jan 2020 through Jun 2021.
Your source for the latest Long Island office market reports
Get in-depth office market reports and insights from commercial real estate experts in the Greater Long Island area. Avison Young advisors look at Long Island commercial real estate activities and the latest Long Island statistics to provide you expert market research on Long Island's office properties.
Explore different topics like the latest office market pricing trends and analysis of Long Island's current office real estate market conditions. Gain a better understanding of Long Island’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Long Island's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights on Long Island.
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