The New York City commercial office marketplace has seen an unbelievable "run up" in the past 12 months. Commercial office space rentals on a per sq. ft. basis are about to eclipse previous records and the demand for new office space - particularly in the small office sector - is unprecedented. You can look to the expansion of WeWork as the emblem of this trend, but the sad fact is that the small or solo practice has fewer and fewer options to find new office space in Manhattan with each passing month.
The trend started years ago when landlords sensing a strengthening commercial office space marketplace sought to displace smaller tenants and consolidate single floors to make them available to larger tenants. This sent smaller tenants to search for smaller spaces which were becoming a dwindling availability in midtown, except in a few buildings that still catered to smaller tenants, but in "B" or "C" building settings. It became very hard to find nice small space in midtown, which led to 2 trends:
First, the development of "Executive Suites", and next the push for Law Firms with extra offices to sublease them to other professionals as a way to offset bottom line rent expense for the firm as well as an opportunity to have more practitioners under one roof to potentially collaborate with.
This is an excellent time for law firms with extra offices to attract Legal Subtenants with whom to share their space. LookingForSpace.com is perfectly positioned to help law firms with extra offices advertise and promote them directly to an audience of lawyers and other appropriate professionals who respond on a principal to principal basis.
If your firm has extra offices and you'd like to learn how to effectively advertise them to other attorneys, please call us to discuss your needs: (212) 986-9100.
If you've already seen our listings and the depth of positive testimonials we've accumulated over the past several years, you can add your listing online simply by clicking "Add Your Listing" in the navigation bar at the top of any page on the LookingForSpace.com website.
You can add unlimited descriptive text an photographs so the "Renter" knows exactly what you are offering. By offering all of the details, you'll find that most inquiries you receive are "warm leads" because the inquiring party knows exactly what you are offering because you've described it in great detail.
Once you've added your listing, you can log into your personal dashboard to modify the text or photos at any time. Additionally you can track you listings Analytics as well as keep a copy of all of your email inquiries and responses.
Try using our service to sublease extra offices in your firm to other attorneys. We have a great track record, and you'll pay a simple monthly advertising fee with no middleman involved in your dealings with principals - unless you ask us to help you in which case we're always available.