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Office Market Study : Local Business Climate : Characteristics Of The Economic Base

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OFFICE MARKET STUDY
• Local business climate: characteristics of the economic base (i.e./ detailed employment estimates and projections) o Which industries dominate the local economy? o Are they expanding and, of so, what are their needs? o Are new types of businesses entering the area and what are their needs? o Which locations are best suited for particular business activities? o Will losers find the labor force they need? Second-tier tenants?

Project statement and definition
This report is to investigate whether demand is sufficient to absorb growth in the office space of midtown Manhattan. In the past decade, the midtown Manhattan became increasingly popular to a variety of companies after the revitalization of the Broadway and the 911. While Lower Manhattan is the main financial center, Midtown is the country 's largest commercial, entertainment and media center. Midtown Manhattan is now a growing center of finance, second in importance within the United States only to Lower Manhattan 's Financial District.

The proposed outline and logic of this report are as follows: firstly, the key influencing factors of demand will be identified. The region’s overall economic condition, office employment trends and net absorption are going to be considered. Secondly, various analytical strategies would be applied to further investigate the mechanism of the market. Then quantitative methods such as multiple linear regression would be drawn on to assess the effect of the

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