Universities Play Catch-Up on City Space
(Wall Street Journal) — Despite New York City’s real-estate and population boom over the past decade, higher-education institutions added only about 2.5 million square feet of space in the city since 2000. Now colleges and universities are playing catch-up, according to a recent report by commercial real-estate firm Cassidy Turley. Currently, higher-education institutions control 112 million square feet space in the city, or 22% of the office market, according to the report.
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