JLL’s second annual Banking and Finance Outlook is an in-depth look at the leading trends impacting the banking and financial services industry and their implications for the real estate market.
This report includes our view on how this industry is utilizing office space across 38 office markets in the U.S. and Canada.
The banking and financial services industry is better positioned for the future due to its diligent pursuit of trimming costs and lowering risk exposure. Over the near term, the industry will become increasing dominated by its largest and smallest players as operating in the middle market becomes more difficult.
Although a few larger financial services tenants Downtown have downsized by as much as 10 percent, other banking tenants located in the CBD with smaller footprints have actually begun to expand, in line with recent sector-specific job growth. Commercial lending and banks focused on equity raising have led these recent Downtown expansions.
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