Comparing the occupants of Downtown Manhattan from ten years ago with today shows a drastic shift in the types of companies choosing to plant a flag in the Financial District.
More specifically, when comparing the occupants of the World Trade Center’s original Twin Towers with the ones in todays 1WTC, there is a clear emergence of tech and media information companies.
Analysts and industry executives say this is partly because traditional financial services and law firms — still bruised from the 2008 financial crisis — are no longer the main source of demand for new commercial properties across downtown Manhattan.
Instead, they have been replaced by technology start-ups and media companies, a trend that extends to London, where demand from those fast-growing industries has likewise transformed the property landscape.
Check out the full article on the Financial Times for an in-depth look at Downtown’s changing property landscape.
via Financial Times