Submarket shuffle: New report shows office migration away from downtown

A development that was mired in the delays and challenges of the pandemic, the Vision on Fifteenth in the Strip District is now benefiting from a real estate trend trajectory in which corporate moves are translating into filled space.

Passersby of the big building along Smallman Street can see the latest manifestation of companies moving to the property in the new sign on top displaying the presence of New York Life, which was located in an address on the Parkway West last year and is now nearing the completion of a build out of a new 43,000-square-foot office in the city.

Scott DiGuglielmo, executive vice president of brokerage for NAI Burns Scalo, owner of the property, reports the Vision is now about 80% leased, a level of stabilization that has come from drawing in a number of companies from downtown — Huntington Bank, ATI, Wilshire — with another potential prospect that may be coming from the South Side.

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