Angela Gentry has carved out her own niche within New York's commercial real estate sector. In 2022, Gentry, who at the time had over 20 years of experience in the field, joined JLL in a role specifically created for her: Executive Managing Director of Sales and Platform for the New York Tri-State Area. She describes the role as the 'ultimate Switzerland' for the brokerage firm, as it focused on what was best for both the company and its clients in leasing and sales.
In May, Gentry was then promoted to Vice Chairman of Leasing Advisory for the New York Tri-State Region, a position that does not yet exist in a similar form in JLL's other markets. Gentry's task is to scale JLL's highly successful approaches in the New York City brokerage business nationally. The company is riding the wave of artificial intelligence, having been involved in several recent tech deals, including a 98,420 square foot deal for AI company Legora at SL Green Realty's 11 Madison Avenue and a 13,754 square foot lease for Genius AI at ZG Capital Partners’ 838 Broadway.
Gentry explained that her original role at JLL was as Senior Director for Sales Enablement, where she built a team to support brokers with pitches and proposals. After eighteen months, she saw an opportunity to take a 'more holistic approach' by proactively building relationships with clients and prospects during the early sales cycle. This role, focused on the best interests of the firm and clients, had not previously existed at JLL.
Her promotion in May aimed to integrate her into the national network of other office leaders. She emphasised that New York exhibits an intense pace and high revenues, enabling investments in data science and technology that are not possible in other markets. Part of her responsibility is now to scale the successful practices from New York or make them accessible to other parts of the organisation, allowing them to examine what might be relevant for their respective markets.
Gentry reported exciting successes, representing a mix of deal closures and relationship building. She highlighted that the financial services industry, as well as the AI and technology sectors, continue to be highly active, with strong demand for office space. Some brokers described the current activity as the busiest they had ever experienced, which she interprets as a sign of strength. Nevertheless, there are also sceptics who fear a market downturn.
Regarding the evolution of office leasing trends in light of the growing presence of AI, Gentry anticipates acquisitions in the AI sector, similar to what was seen with dot-com companies. She continues to observe strong activity from San Francisco, with many firms interested in New York locations. Demand for talent remains a key issue, particularly concerning the sustainability of employee retention in New York given the high cost of living. Decision-making processes are now more protracted, and clients are increasingly asking questions about local politics and talent attraction – topics that were not previously a focus.
