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Andrew Coe
Managing Director @ JLL | Commercial Real Estate Expert
Andrew Coe is a dedicated commercial real estate advisor with a passion for helping occupier and landlord clients navigate the complexities of the Manhattan market. With a focus on talent retention and productivity, Andrew leverages his extensive experience to develop and execute real estate strategies that align with his clients' business objectives. Over the past five years, he has been involved in over 1 million square feet of annual leasing transactions, representing approximately 5% of all leasing activities in Manhattan. His in-depth knowledge of the market dynamics allows him to identify and capitalize on opportunities arising from disruptions and fragmentation.
Highlights
Friends, Family & Colleagues - After years of cheering along the sidelines, I’m excited to be taking on the 2024 TCS New York City Marathon with Fred’s Team, the official running program of Memorial Sloan Kettering Cancer Center (MSK). My goal is to raise $5,500+ to support groundbreaking cancer research at MSK, and I have initiated this campaign by donating 50% of my target goal. I know many of you are involved with similar charities on a recurring basis, so any contribution is tremendously appreciated.
While running this year I will specifically be thinking of family, friends, colleagues and acquaintances who either lost their battles to cancer, are continuing to fight, or are in remission, as detailed on my landing page.
If you're unable to donate this year, I would still love to see you on the sidelines on November 3rd. It is an inspiring event and one of the best days of the year to be in NYC.
THANK YOU!
Andrew
"The end of the knowledge economy is giving way to a new paradigm where relationships hold the key to success." - Karin Kimbrough (LinkedIn's Chief Economist)
Earlier this month, one of JLL's competitors released an article framing AI as (yet another) threat to the office market. For Class B & C assets, particularly those in undesirable locations, I could not agree more.
Stephen Hawking famously said, "Showing up is half the battle." Since March 2020, some percentage of the U.S. population has deemed that "showing up" is not required. If your job can be automated, if you do not value showing up (i.e., building in-person relationships with your team), and/or if your job can be offshored for a fraction of your salary, your job is at risk. Right or wrong, public corporations prioritize shareholder value over allegiance to employees. Allegiances exist between mentors and mentees.
On the flipside, many public and private corporations are investing more than ever before on front-of-house office facilities. For those expected to "show up", the office of today and tomorrow offers more than ever before.
Park Avenue's vacancy has decreased by over 15% vs. 2022, which has been driven primarily by the leaders of financial services and professional services firms who expect that their employees will be visible stewards of their respective organizations.
The change highlighted by Karin Kimbrough is both an opportunity and a threat, and the implications to the office market will continue to be equally polarizing.
