Miami’s office market continues to be dependent on coworking firms to fill their spaces, but some landlords are concerned that their absorption rate is becoming too much.
Knotel adds another 100,000 square feet in office leases
New York-based coworking space operator Knotel has announced it has signed five more leases totaling 99,486 square feet in New York City, Just last week, the company signed four office leases that totaled 80,000 square feet.
Now, Knotel’s New York City footprint has expanded to over 2 million square feet, mainly throughout Midtown South and Lower Manhattan.
Their largest transaction was the OTB Group’s nearly 38,000 square foot space on West 19th Street in which they cover the 3rd, 4th, 5th, and 9th floors of the building.
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Additionally, the company recently signed a 30,334 square foot lease on the 9th and 10th floors of Tribeca Associates building in the Financial District.
“We are continuously evaluating opportunities to expand our footprint based on factors like client demand, owner relationships and market conditions,” said Eugene Lee, global head of real estate and business development at Knotel. “As the leader in providing flexible office for real businesses, we have already grown to more than 80 locations in New York and have many more on the way.”
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