Since the onset of the pandemic, Finance, Insurance, and Real Estate tenants on Long Island maintain their position as the largest industries in the market
Long Island Office Leasing Activity by Industry Pre and Post-Covid
- Since the onset of the pandemic in April 2020, the finance, insurance, and real estate industries have nearly doubled their leased square footage, increasing from approximately 680,000 sf to 1,300,000 sf. This surge in leased square footage propelled the industry's total market share from 33% to 46%, marking the most significant increase across all sectors.
- While many industries have maintained stability during the pandemic, law firms experienced a notable decline, with a 10% decrease in market share, dropping from 300,000 sf leased to 140,000 sf.
March 27, 2024
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