Caution: Vacancy Increases Ahead

Size: px
Start display at page:

Download "Caution: Vacancy Increases Ahead"

Transcription

1 MARKET REPORT DISTRICT OF COLUMBIA OFFICE Fourth Quarter 2016 Caution: Vacancy Increases Ahead Market Indicators Q (Projected) NET Despite year-to-date negative absorption, the Washington, DC offi ce market fundamentals improved in the fourth quarter. Demand ended the quarter at 535,259 square feet of positive absorption and the vacancy rate decreased by 37 basis points this quarter. There is a large amount of new space coming to the market and a relatively small amount of growth from the existing tenants. With conservative market assumptions, vacancy is expected to increase by more than 200 basis points within the next two years as speculative development already under construction outpaces tenant demand. RENTAL Summary Statistics Q Office Market All Classes Class A Class B & C Vacancy Rate 10.9% 11.7% 9.6% Economic During 2016, the District of Columbia s economy grew by 1.6 percent and generated nearly 30,000 new jobs. Of this growth, 67.6 percent or nearly 10,400 positions were created in office-using industries. While this was impressive growth, 39.3 percent or nearly 4,100 new jobs were generated by the Federal Government. Since the Budget Control Act of 2011, the Federal Government has been required to watch expenses. As a result, the GSA has implemented the shrink the footprint, policy resulting in virtually every renewing GSA lease decreasing its square footage. Any new Federal jobs created are either being accommodated by existing space but at higher utilization rates or by workplace strategies like hoteling or teleworking. As a result, only the private-sector, office-using industries have been fueling growth within the District of Columbia. Professional and business services firms contributed the most to the privatesector job growth. During 2016, these sectors added 4,700 new job of which just over 1,800 jobs were created be legal services firms. Advocacy organizations also added new jobs increasing payrolls by 580 positions. The media and information sectors of the economy were the only major office-using group to see falling levels of employment during In total, about 180 jobs were eliminated by these companies. Change From Q (basis points) Absorption (Square Feet) New Construction (Square Feet) Under Construction (Million Square Feet) Asking Rents Per Square Foot Per Year , ,363-22, , ,172 15, Direct Asking Rates $52.61 $57.82 $44.02 Change From Q $0.26 +$0.14 +$0.40 Asking Rate ($/SF) Direct Asking Rental Rates By Class $64 $59 $54 $49 $44 $39 $34 $57.82/SF $44.07/SF $42.97/SF $29 $24 Class A Class B Class C

2 District of Columbia Office Market Leasing Activity Q TENANT ADDRESS SUBMARKET CLASS LEASE TYPE LEASED SPACE National Committee for Quality Assurance (NCQA) Demand Job growth was extremely strong in 2016, but it has yet to result in absorption for the District. Net absorption in 2016 was negative 191,0124 square feet with the vast majority coming from the Coast Guard leaving the Transpoint office building located at nd Street, SW in the Capitol Riverfront submarket last quarter. The fourth quarter did, however, show signs of stabilizing with a strong quarter of positive absorption, which totaled 557,363 square feet. The largest driver to the positive absorption this quarter came from an expansion in the District from WeWork. WeWork, a shared office space provider, continued to be one of the largest and most active recent absorbers of space in the market. This industry has been growing in the market by creating a collaborative office environment for its clients while also giving companies a tremendous amount of flexibility with their real estate needs. It s one of a few industries that has been growing, not only in the District, but in the entire region. The Federal Government and the legal service industry, mainstays of net absorption in the past, have for the most part, downsized with every subsequent lease over the last several years th Street, NW East End-A Relocation 195,472 US International Trade Commission 500 E Street, NW Southwest-A Renewal 191,226 MacFadden and Associates th Street, NW East End-A Relocation 120,000 Federal Election Commission (FEC) st Street, NE NoMa-A Consolidation 98,681 FTI Consulting th Street, NW East End-A Relocation 93,507 Aspen Institute 2300 N Street, NW West End-A Relocation 92,602 Amtrack 1 Massachusetts Avenue, NW NoMa-A Relocation 82,154 WeWork 80 M Street, SE Capitol Riverfront-A New 68,673 Fish & Richardson 1000 Maine Avenue, NW Southwest-A Prelease/Relocation 60,372 United Healthcare Services, Inc. 701 Pennsylvania Avenue, NW East End-A Renewal 40,225 Supply Regardless of the lack of demand seen in 2016, new construction continues to move forward. The amount of new inventory coming to the market and the lack of positive net absorption in the near future will likely change the prevailing vacancy trend. Over 660,000 square feet of new supply was delivered to the market in the fourth quarter. Redevelopment and demolitions have kept the District from realizing sizable vacancy gains as of yet. The net increase to market inventory was just 162,342 square feet because of the demolitions and removals of buildings in the fourth quarter. Since the start of 2016, well over two million more square feet of construction broke ground in the District, which brought the total under construction to 4.9 million square feet. Roughly, half of the construction in the District is already committed. However, with the start of Capitol Crossing on a speculative basis, the pre-committed space decreased from 61.4 percent in the third quarter to 51.4 percent in the fourth. Eighteen buildings are currently under construction or significant renovation. In million square feet of spacec is expected to deliver. This compares to 1.8 million that delivered in Subsequently, 3.0 million square feet is expected to deliver in Much of the reason for this increased construction comes from significant redevelopment of city blocks like Capitol Crossing, rather than one-off redevelopments that have been more popular in the past. In most cases this new construction is more attractive to larger tenants in the market. Vacancy rates in those newly constructed buildings will be low but the associated move outs in the aging commodity A buildings will push the vacancy higher. TRANSPOINT CAPITOL CROSSING

3 Vacancy Rates The considerable net absorption in the fourth quarter lowered vacancy rates by 27 basis points to 10.9 percent. While decreasing slightly from the third quarter, vacancy posted the second highest level since the third quarter of 2014 and 52 basis points higher than the five-year average of 10.4 percent. Vacancy decreased in both direct and sublet space, the first time that has happened in over a year. Surprisingly, despite having strong positive absorption in the Class A space, vacancy held firm and ended the quarter at 11.7 percent, the same as the previous two quarters. The lack of movement in vacancy this quarter comes from the balance of strong net absorption and new deliveries coming online. Both the Class B and C space decreased in vacancy for the fourth quarter dropping to 10.5 and 4.0 percent, respectively. Rental Rates Average asking rents for the District increased slightly to end the quarter at $52.61 per square foot on a full service basis. As new higherend space delivered to the market, asking rental rates moved upward in the market. Both Class A and B rents rose in the fourth quarter while Class C rents dropped by over a dollar per square foot. The decrease in Class C rents is counter to dwindling supply and vacancy in that quality of space. Outlook With increased development activity occurring throughout 2016 and expected decreases in demand over the next several years, the vacancy rate in the District is expected to increase substantially. Vacancy is expected to top out at over 14 percent in The majority of that vacancy will come from commodity A space as tenants move to higher-end more efficient space that is currently under construction. It is expected, however, that the majority of the downsizing caused by tenant efficiency gains will be over by Post-2017 it is expected that job growth will more directly translate to absorption gains and declining vacancy rates. The largest question mark over the next several years will be the impact on the national economy of President elect Trump. Trump has arguably been a successful real estate developer. It would follow that many of his decisions on where to take the United States would be realestate friendly. Whether or not the economy continues to add jobs under Trump s new administration as it has for the last several quarters under Obama remains to be seen. District of Columbia Office Market Deliveries Q PROJECT DEVELOPMENT TYPE SUBMARKET CLASS DELIVERY DATE RENTAL BASE AREA % COMMITTED 600 Massachusetts Avenue, NW Pre-Committed East End-Trophy 2016 Q4 401, % Uline Arena rd Street, NE Redevelopment NoMa-A 2016 Q4 244, % th Street, NW Speculative East End-B 2016 Q4 15, % District of Columbia Office Market Under Development Q PROJECT DEVELOPMENT TYPE SUBMARKET CLASS DELIVERY DATE RENTAL BASE AREA % COMMITTED th Street, NW Renovation CBD-A 2017 Q1 115, % 700 Pennsylvania Avenue, NW Speculative Capitol Hill-A 2017 Q2 234, % 1441 L Street, NW Renovation East End-A 2017 Q3 176, % The Wharf Building I 800 Maine Avenue, SW Speculative Southwest-A 2017 Q3 241, % 2001 K Street, NW Redevelopment CBD-Trophy 2017 Q4 764, % 99 M Street, SE Speculative Capitol Riverfront-A 2018 Q1 235, % Square New York Avenue, NW Pre-Committed East End-Trophy 2018 Q2 761, % Midtown CenterFannie Mae th Street, NW Capitol Crossing 200 Massachusetts Avenue, NW The Wharf Building II 1000 Maine Avenue, SW Pre-Committed CBD-Trophy 2018 Q2 868, % Speculative Capitol Hill-Trophy 2018 Q2 408,156 0% Pre-Committed Southwest-A 2018 Q2 267, % One M-1 M Street, SE Build-to-Suit Capitol Riverfront-A 2018 Q3 130, %

4 Q4 RENTAL S TOTAL OFFICE $57.82 INVENTORY CLASS A 144.2M SF 91.1M SF CLASS A 53.1M SF TOTAL INVENTORY BY CLASS CLASS A: 63% $44.02 CURRENT CLASS B&C CLASS B&C 10.9% CLASS B & C: 37% 535,269 NET Demand / Supply Fundamentals Net Absorption, Change in Supply, Vacancy % Net Absorption Supply Changes % Vacancy (%) (Thousands SF) 600 Overall Vacancy Rate 10.5% % -600 Q Q Q Q Q Q Q Q Q Q Q ,000 Q %

5 District of Columbia Office Market All Classes Q MARKET EXISTING INVENTORY NEW SUPPLY YTD NEW SUPPLY UNDER YTD OVERALL DIRECT ASKING DISTRICT OF COLUMBIA Capitol Hill 5,338,925-14, ,077 15, , % $56.47 Capitol Riverfront 5,030, ,000 22, , % $42.40 CBD 44,223, ,825 1,708, , , % $54.35 East End 47,338, , ,826 1,136,368 75, , % $56.92 Georgetown 3,247, ,480 8, % $49.97 NoMa 10,980, , , , , , % $50.77 Southwest 12,258, , , , , % $48.10 West End 4,478, ,825 19, % $47.62 Uptown 11,264, ,140-12, , % $41.53 DISTRICT OF COLUMBIA TOTAL 144,160, ,299 1,729,832 4,907, , , % $52.61 District of Columbia Office Market Class A Q MARKET EXISTING INVENTORY NEW SUPPLY YTD NEW SUPPLY UNDER YTD OVERALL DIRECT ASKING DISTRICT OF COLUMBIA Capitol Hill 2,941, ,077-3,756 92, % $61.80 Capitol Riverfront 3,809, ,000 25,103-27, % $48.50 CBD 23,013, ,825 1,664, , , % $59.98 East End 35,166, , ,172 1,136, , , % $62.20 Georgetown 1,771, , % $58.28 NoMa 9,796, , , , , , % $51.67 Southwest 9,222, , ,010 62, , % $48.29 West End 2,846, ,895 13, % $47.62 Uptown 2,521, ,078-8, % $48.22 DISTRICT OF COLUMBIA TOTAL 91,089, ,172 1,678,932 4,840, , , % $57.82 District of Columbia Office Market Class B & C Q MARKET EXISTING INVENTORY NEW SUPPLY YTD NEW SUPPLY UNDER YTD OVERALL DIRECT ASKING DISTRICT OF COLUMBIA Capitol Hill 2,397,725-14,246-18,991 47, % $49.71 Capitol Riverfront 1,220, , , % $39.14 CBD 21,210, ,308-5,378 30, % $46.26 East End 12,172,224 15,127 36, , , % $45.84 Georgetown 1,475, ,808 14, % $36.85 NoMa 1,183, ,311-44, % $29.58 Southwest 3,035, ,531 26, % $47.06 West End 1,632, ,070 6, % n/a Uptown 8,742, ,140 32, , % $41.26 DISTRICT OF COLUMBIA TOTAL 53,071,078 15,127 50,900 67,448-22, , % $44.02

6 544 offices in 66 countries on 6 continents United States: 140 Canada: 31 Latin America: 24 Asia Pacific: 199 EMEA: 108 FOR MORE INFORMATION: Dave Parker Regional Managing Director Robert Hartley Director of Research CONTRIBUTOR: Andrew Wellman Research Analyst colliers.com/washingtondc $2.5 billion in annual revenue US* 2 billion square feet under management 16,000 professionals and staff About Colliers International Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals Global Outsourcing for 10 consecutive years, more than any other real estate services firm. For the latest news from Colliers International, visit Colliers.com or follow us on Twitter and LinkedIn. colliers.com Copyright 2017 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

Everything Old is New Again

Everything Old is New Again MARKET REPORT OFFICE Second Quarter 2016 Everything Old is New Again Market Indicators Q2 2016 2017 (Projected) While the global economy remains on its Jekyll and Hyde path, the District s commercial real

More information

Legal Industry: Bigger No Longer Better

Legal Industry: Bigger No Longer Better MARKET REPORT DISTRICT OF COLUMBIA OFFICE First Quarter 2017 Legal Industry: Bigger No Longer Better After a strong end to 2016, leasing activity in the beginning of 2017 started with a whimper. Just two

More information

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline.

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline. RESEARCH MARKET REPORT DISTRICT OF COLUMBIA OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 DC Development: No Signs

More information

Vacancy Increased Slightly During the First Quarter

Vacancy Increased Slightly During the First Quarter Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q1 2016 Vacancy Increased Slightly During the First Quarter > Vacancy rates have been steadily declining since the fourth quarter of 2011.

More information

Office Market Continues to Improve

Office Market Continues to Improve Research & Forecast Report LAS VEGAS OFFICE Q3 2016 Office Market Continues to Improve > > Southern Nevada s office market is improving at a steady rate > > Net absorption has been positive in twelve of

More information

Low Vacancy Stimulates New Developments

Low Vacancy Stimulates New Developments Research & Forecast Report LAS VEGAS MULTIFAMILY Q3 2015 Low Vacancy Stimulates New Developments > > Multifamily vacancy dipped below 5 percent in the third quarter of 2015 ELECTRIC Meter Hookups NEW HOME

More information

VACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20

VACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20 Research & Forecast Report RENO OFFICE Q4 A Good Year Overall > Building sale prices are significantly higher than. > Seven buildings over 40,000 sf sold in, more than in previous years. > Many large office

More information

Shrinking Supply Continues To Push Rates

Shrinking Supply Continues To Push Rates Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q1 2017 Shrinking Supply Continues To Push Rates > Office inventory: 8,221,819 > Vacancy: 10.5 percent > Net absorption: 49,103 year-to-date

More information

Landlords Getting Aggressive

Landlords Getting Aggressive Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2017 Landlords Getting Aggressive Ron Anderson Vice President of Administration South Carolina Key Takeaways > > Landlords

More information

Homestretch: Office Market Set to Finish Strong

Homestretch: Office Market Set to Finish Strong Research & Forecast Report RENO OFFICE Q3 2016 Homestretch: Office Market Set to Finish Strong >> Vacancy drops significantly the largest drop quarter over quarter in 2016 >> Rental rates are not increasing

More information

Medical Takes a Sick Quarter

Medical Takes a Sick Quarter Research & Forecast Report LAS VEGAS MEDICAL OFFICE Q3 2015 Medical Takes a Sick Quarter > > After two quarters of growth, the medical real estate sector stalled in the third quarter of 2015 > > Asking

More information

Land Sales Lighter in Third Quarter

Land Sales Lighter in Third Quarter Research & Forecast Report LAND Q3 216 Land Sales Lighter in Third Quarter > > While land sales are up in 216 overall, they decreased in the third quarter Economic Indicators > > Apex continues to dominate

More information

Quick Absorption of Newly Constructed Office Buildings

Quick Absorption of Newly Constructed Office Buildings Research & Forecast Report CHARLESTON, SC OFFICE Q3 2016 Quick Absorption of Newly Constructed Office Buildings Bryana Mistretta Research Coordinator South Carolina Key Takeaways >> The Interstate 526

More information

2.8% 2.0% $811M. 2017: A Solid Year for the Metro Denver Office Sector HIGHLIGHTED METRO DENVER OFFICE. Market Report Q ECONOMIC TRENDS

2.8% 2.0% $811M. 2017: A Solid Year for the Metro Denver Office Sector HIGHLIGHTED METRO DENVER OFFICE. Market Report Q ECONOMIC TRENDS Market Report METRO DENVER OFFICE Q4 2017 2017: A Solid Year for the Metro Denver Office Sector MARKET OVERVIEW Denver s office market finished 2017 with strong positive absorption during the fourth quarter

More information

+48.6 million sf office inventory

+48.6 million sf office inventory Research Market Report METROPOLITAN MILWAUKEE OFFICE 2018 Quarter 1 Research Wisconsin Introduction Following a strong second half of 2017, 2018 had a slow start. Despite an increase in vacancy and negative

More information

Soft Land Market in 2017

Soft Land Market in 2017 Research & Forecast Report LAND Q4 217 Soft Land Market in 217 > > Land sales in 217 fell behind 216 > > A lack of large sales at Apex brought the average price per square foot up > > Strong development

More information

Red Hot Rents & Cooling Vacancy

Red Hot Rents & Cooling Vacancy Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q3 2017 Red Hot Rents & Cooling Vacancy > > Office Inventory: 16,926,446 Square Feet > > Vacancy: 12.9 percent > > Net absorption: (380,946) Square

More information

Vacancy Edges Lower in Fourth Quarter

Vacancy Edges Lower in Fourth Quarter Research & Forecast Report FAIRFIELD OFFICE Q4 Vacancy Edges Lower in Fourth Quarter > > Office Inventory: 5,067,112 > > Current Vacancy: 14.2% > > Net Absorption: 63,610 The vacancy rate for office space

More information

Greenville defies the nationwide trend of retail closures

Greenville defies the nationwide trend of retail closures Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON, SC RETAIL Q3 2017 Greenville defies the nationwide trend of retail closures Crystal Baker Research Coordinator South Carolina Key Takeaways >

More information

MANHATTAN OFFICE 2017

MANHATTAN OFFICE 2017 Research Report MANHATTAN OFFICE 2017 Accelerating success. % $ ± Market Indicators Full Year 2016 Full Year 2017 Y-O-Y Change AVAILABILITY RATE 10.3% 10.0% -0.3pp AVERAGE ASKING RENT ($/SF/YR) $73.24

More information

2018: A Ground Breaking Year

2018: A Ground Breaking Year Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q4 2017 2018: A Ground Breaking Year > Office inventory: 8,527,819 > Vacancy: 10.6 percent > Net absorption: 310,934 year-to-date The Northern

More information

Investor Activity Spurs New Opportunities

Investor Activity Spurs New Opportunities Research & Forecast Report GREENVILLE ANDERSON SOUTH CAROLINA OFFICE Q1 017 Investor Activity Spurs New Opportunities Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Activity from

More information

Second Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers

Second Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers Q2 2013 OFFICE SUBURBAN MARYLAND SUBURBAN MARYLAND MARKET REPORT Second Quarter: Suburban Maryland s Uptick in has yet to be Realized in Numbers Updated May 2012 MARKET INDICATIONS Q2 2013 Q3 2013 (p)

More information

Office Market Heats Up as Temperatures Cool

Office Market Heats Up as Temperatures Cool Research & Forecast Report RENO OFFICE Q3 2017 Office Market Heats Up as Temperatures Cool >>Vacancy decreased to 11.8% >>Positive net absorption of 36,041 square feet >>Construction is imminent with limited

More information

MARKET REPORT THIRD QUARTER Third Quarter Leasing Thrives Amidst Tepid Tenant Growth Q DISTRICT OF COLUMBIA OFFICE MARKET SUMMARY

MARKET REPORT THIRD QUARTER Third Quarter Leasing Thrives Amidst Tepid Tenant Growth Q DISTRICT OF COLUMBIA OFFICE MARKET SUMMARY Q3 2014 DISTRICT OF COLUMBIA OFFICE DISTRICT MARKET REPORT OF COLUMBIA Q3 2014 OFFICE DISTRICT OF COLUMBIA OFFICE MARKET REPORT THIRD QUARTER 2014 Third Quarter Leasing Thrives Amidst Tepid Tenant Growth

More information

Switching Gears NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators

Switching Gears NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2017 Switching Gears > > Office Inventory: 16,926,446 square feet > > Vacancy: 14 percent > > Net absorption: (562,879) square feet, year to date

More information

The Improvement of the Industrial Market

The Improvement of the Industrial Market Research & Forecast Report Long Island industrial MARKET Q2 2015 The Improvement of the Industrial Market Rose Liu Research & Financial Analyst Long Island Takeaways The overall economy on Long Island

More information

Strong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016

Strong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016 Research & Forecast Report NASHVILLE INDUSTRIAL 2nd Quarter 2016 Strong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016 2Q 2016 Summary > > The tightening market coupled with

More information

SUBURBAN MARYLAND IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy p.2. Leasing Activity p.3. Development Pipeline p.

SUBURBAN MARYLAND IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy p.2. Leasing Activity p.3. Development Pipeline p. RESEARCH MARKET REPORT SUBURBAN MARYLAND OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 Two Massive Deals Highlight

More information

The Industrial Market Cooled Off in Q1

The Industrial Market Cooled Off in Q1 Research & Forecast Report Long Island industrial MARKET Q1 2016 The Industrial Market Cooled Off in Q1 Rose Liu Director of Finance & Research Long Island Takeaways > > Long Island industrial market slowed

More information

Weighing Options NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators

Weighing Options NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2018 Weighing Options > > Office Inventory: 16,966,736 square feet > > Vacancy: 15 percent > > Net absorption: (35,823) square feet, year to date

More information

New and improved approach to retail

New and improved approach to retail Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON, SC RETAIL Q4 2017 New and improved approach to retail Crystal Baker Research Coordinator South Carolina Key Takeaways > > Rents remain stable

More information

Has The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2.

Has The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2. Research & Forecast Report OAKLAND METROPOLITAN AREA OFFICE Q1 Has The Office Market Reached A Peak? > > Vacancy remained low at 5. > > Net Absorption was positive 8,399 in the first quarter > > Gross

More information

Federal Spending: The Road to Recovery

Federal Spending: The Road to Recovery MARKET REPORT NORTHERN VIRGINIA OFFICE First Quarter 2017 Federal Spending: The Road to Recovery As federal spending growth and the Northern Virginia economy generates new jobs, the office market continued

More information

Market Demands More Investment Product

Market Demands More Investment Product Research & Forecast Report CHARLESTON INVESTMENT Q2 2016 Market Demands More Investment Product Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Investors are seeking opportunities

More information

Strengthening Market Fuels Investment Opportunities

Strengthening Market Fuels Investment Opportunities Research & Forecast Report GREENVILLE, SC OFFICE Q3 2016 Strengthening Market Fuels Investment Opportunities Bryana Mistretta Research Coordinator South Carolina Key Takeaways >> Investment sale opportunities

More information

FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARYLAND OFFICE MARKET REPORT MARKET SUMMARY ABSORPTION

FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARYLAND OFFICE MARKET REPORT MARKET SUMMARY ABSORPTION Q4 2013 MARYLAND OFFICE MARYLAND OFFICE MARKET REPORT FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARKET SUMMARY Updated April 2013 MARKET INDICATORS Q4 2013 Q1 2014* VACANCY

More information

Multifamily Stable and Expanding

Multifamily Stable and Expanding Research & Forecast Report LAS VEGAS MULTIFAMILY Q3 2017 Multifamily Stable and Expanding > > Multifamily vacancy decreased to 3.0 percent in the second quarter of 2017 Economic Indicators > > No new projects

More information

The Office Market Feels The Heat in Q2

The Office Market Feels The Heat in Q2 Research & Forecast Report RENO OFFICE Q2 2017 The Office Market Feels The Heat in Q2 >>All major office submarkets have decreased vacancy and positive absorption this quarter >>The overall vacancy decreased

More information

Stronger Office Market Looking Into Future

Stronger Office Market Looking Into Future Research & Forecast Report Long Island OFFICE MARKET Q2 2015 Stronger Office Market Looking Into Future Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Long Island economic and

More information

RALEIGH-DURHAM MULTIFAMILY MIDYEAR Demand at an All-Time High, Skyrocketing Same-Unit Rents. Research & Forecast Report.

RALEIGH-DURHAM MULTIFAMILY MIDYEAR Demand at an All-Time High, Skyrocketing Same-Unit Rents. Research & Forecast Report. Research & Forecast Report RALEIGH- MULTIFAMILY MIDYEAR 2015 Demand at an All-Time High, Skyrocketing Same-Unit Rents Market Indicators Relative to prior period VACANCY Raleigh-Durham JAN 2015 Raleigh-Durham

More information

Office Market Remained Steady in Q4

Office Market Remained Steady in Q4 Research & Forecast Report Long Island OFFICE MARKET Q4 2015 Office Market Remained Steady in Q4 Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Continuing the momentum, the Long

More information

Surging Rents Carry the North I-680 Corridor

Surging Rents Carry the North I-680 Corridor Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q3 2018 Surging Rents Carry the North I-680 Corridor > > Office Inventory: 16,967,009 Square Feet > > Vacancy: 15.4 percent > > Net absorption: (103,748)

More information

RALEIGH-DURHAM OFFICE Q1 2017

RALEIGH-DURHAM OFFICE Q1 2017 Research & Forecast Report RALEIGH-DURHAM OFFICE Q1 2017 Office Market Remains Stable During First Quarter 2017; Class A Market Continues to Peak Emily Bostic Research Analyst Raleigh-Durham Market Indicators

More information

MARKET REPORT FIRST QUARTER Positive Absorption and Weak Leasing the Story of the First Quarter Q SUBURBAN MARYLAND OFFICE MARKET SUMMARY

MARKET REPORT FIRST QUARTER Positive Absorption and Weak Leasing the Story of the First Quarter Q SUBURBAN MARYLAND OFFICE MARKET SUMMARY Q1 2015 SUBURBAN MARYLAND OFFICE SUBURBAN MARKET REPORT MARYLAND Q1 2015 OFFICE SUBURBAN MARYLAND OFFICE MARKET REPORT FIRST QUARTER 2015 Positive Absorption and Weak Leasing the Story of the First Quarter

More information

Leasing Activity Ticked Up with A Large Upswing of Absorption

Leasing Activity Ticked Up with A Large Upswing of Absorption Research & Forecast Report LONG ISLAND INDUSTRIAL MARKET Leasing Activity Ticked Up with A Large Upswing of Absorption Rose Liu Director of Finance & Research Long Island Takeaways > > The outlook of the

More information

Greenville is a tenant s market

Greenville is a tenant s market Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2018 Greenville is a tenant s market Crystal Baker Research Coordinator South Carolina Key Takeaways > > Large blocks

More information

Solid Fundamentals Keep Nashville Industrial Market Competitive in 1Q

Solid Fundamentals Keep Nashville Industrial Market Competitive in 1Q Research & Forecast Report NASHVILLE INDUSTRIAL 1st Quarter Solid Fundamentals Keep Nashville Industrial Market Competitive in 1Q 1Q Summary >> Nashville s industrial vacancy rate increased slightly in

More information

Washington, D.C. Quarterly Market Report. 2nd Quarter lpcwashingtondc.com

Washington, D.C. Quarterly Market Report. 2nd Quarter lpcwashingtondc.com Washington, D.C. Quarterly Market Report Table of Contents Washington, D.C. Leasing & Market Research Metropolitan D.C. Market Overview...3 Washington, D.C. Quarterly Overview...5 Washington D.C. Top Sales...

More information

Nashville the #5 Market to Watch in 2019

Nashville the #5 Market to Watch in 2019 Research & Forecast Report NASHVILLE INDUSTRIAL 4 th Quarter Nashville the #5 Market to Watch in 2019 Industrial Market The industrial real estate sector is currently undergoing one of the greatest expansionary

More information

Washington, D.C. Quarterly Market Report. 4th Quarter lpcwashingtondc.com

Washington, D.C. Quarterly Market Report. 4th Quarter lpcwashingtondc.com Washington, D.C. Quarterly Market Report th Quarter 17 Table of Contents Washington, D.C. Leasing & Market Research Metropolitan D.C. Market Overview...3 Washington, D.C. Quarterly Overview...5 Washington

More information

RALEIGH-DURHAM OFFICE

RALEIGH-DURHAM OFFICE Research Report RALEIGH-DURHAM OFFICE Q2 2018 Accelerate Success Triangle Continues to Grow, Future Office Deliveries Expected to Drive Leasing Activity Kelsey Rogers Research Analyst Raleigh- Key Takeaways

More information

Washington, D.C. Quarterly Market Report. 1st Quarter lpcwashingtondc.com

Washington, D.C. Quarterly Market Report. 1st Quarter lpcwashingtondc.com Washington, D.C. Quarterly Market Report 1st Quarter 1 Table of Contents Washington, D.C. Leasing & Market Research Metropolitan D.C. Market Overview...3 Washington, D.C. Quarterly Overview...5 Washington

More information

Research Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3. Introduction. Research Wisconsin. Market Indicators

Research Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3. Introduction. Research Wisconsin. Market Indicators Research Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3 Research Wisconsin Introduction NORTHWEST With one of the biggest investments made by a foreign company to the United States, Q3 started

More information

RALEIGH-DURHAM MULTIFAMILY Year End 2017

RALEIGH-DURHAM MULTIFAMILY Year End 2017 Research Report -DURHAM MULTIFAMILY Year End 2017 Multifamily Growth Expected to Continue in 2018, Despite a Moderate Decrease in Permitting Totals Emily Bostic Research Analyst Raleigh-Durham Key Takeaways

More information

Cranes are Lifting Skylines and Future Vacancy

Cranes are Lifting Skylines and Future Vacancy MARKET REPORT NORTHERN VIRGINIA OFFICE Fourth Quarter 2016 Cranes are Lifting Skylines and Future Vacancy Northern Virginia continued to see increased demand in the fourth quarter, although 2016 numbers

More information

The Rise of the Gold Coast

The Rise of the Gold Coast Research & Forecast Report Long Island OFFICE MARKET Q1 2015 The Rise of the Gold Coast Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B In the first quarter of 2015, Long Island

More information

Washington, D.C. Quarterly Market Report. 3rd Quarter lpcwashingtondc.com

Washington, D.C. Quarterly Market Report. 3rd Quarter lpcwashingtondc.com Washington, D.C. Quarterly Market Report Table of Contents Washington, D.C. Leasing & Market Research Metropolitan D.C. Market Overview...3 Washington, D.C. Quarterly Overview...5 Washington D.C. Top Sales...

More information

Changing of the Guard

Changing of the Guard Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q1 2018 Changing of the Guard > > Office Inventory: 16,931,340 square feet > > Vacancy: 14.5 percent > > Net absorption: (88,606) square feet year-to-date

More information

Sharper fall in office rents and capital values

Sharper fall in office rents and capital values Research & Forecast Report SINGAPORE OFFICE Q1 2016 Sharper fall in office rents and capital values Joanna Chen Manager, Research and Advisory The office market faces a critical juncture in the next few

More information

>What constitutes a. Big Box Vacancy Decreases for First Time in Two Years. CHICAGO BIG BOX First Quarter Research & Forecast Report

>What constitutes a. Big Box Vacancy Decreases for First Time in Two Years. CHICAGO BIG BOX First Quarter Research & Forecast Report Research & Forecast Report CHICAGO BIG BOX First Quarter 018 Big Box Vacancy Decreases for First Time in Two Years Craig Hurvitz Vice President Chicago The vacancy rate for the Chicago market s big box

More information

New Construction Offers Hope to Larger Users

New Construction Offers Hope to Larger Users Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL Q3 2017 New Construction Offers Hope to Larger Users > Vacancy rates in the Tri-Valley industrial market are now down to a record 0.9 percent

More information

Disappearing Vacancy PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report. Market Indicators - Tri-Valley 77.

Disappearing Vacancy PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report. Market Indicators - Tri-Valley 77. Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q3 Disappearing Vacancy > The office market vacancy continued its downward trend to 9.3 percent > Overall market weighted average asking rents held

More information

With Low Vacancy, What Is Next?

With Low Vacancy, What Is Next? Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL Q3 With Low Vacancy, What Is Next? > Vacancy rates continue to fall, reporting 5.4 percent for the third quarter. > Asking rates climb to $0.72

More information

Suburban Maryland Lagging Recovery

Suburban Maryland Lagging Recovery Research & Forecast Report Suburban Maryland Office Market Fourth Quarter 2015 Suburban Maryland Lagging Recovery Andrew Wellman Research Analyst Suburban Maryland Despite strengthening market fundamentals,

More information

Quiet Start to Second Half of 2017

Quiet Start to Second Half of 2017 Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q3 Quiet Start to Second Half of > The vacancy rate for the Tri-Valley continued its downward slope closing the quarter at 10.0 percent > Weighted

More information

Third Quarter: Market Softens as Election Approaches

Third Quarter: Market Softens as Election Approaches Q3 2012 OFFICE WSHINGTON, DC WSHINGTON, DC MRKET REPORT Third Quarter: Market Softens as Election pproaches MRKET OVERVIEW The District registered negative net absorption for the third quarter of 2012,

More information

Q2:11. Transwestern Outlook WASHINGTON, D.C.

Q2:11. Transwestern Outlook WASHINGTON, D.C. 11 Office Property Owners Invest in Renovating Older Product to Class A; Vacancy Edges Up as Rents Edge Down; Investment Sales Strong and Net Absorption Notable The District of Columbia office market experienced

More information

A tight Columbia market may lead to office transformation

A tight Columbia market may lead to office transformation Research & Forecast Report COLUMBIA, SC OFFICE Q3 2018 A tight Columbia market may lead to office transformation Crystal Baker Research Coordinator South Carolina Key Takeaways > > The Columbia office

More information

RALEIGH-DURHAM MULTIFAMILY Q Unprecedented Investment Sales Crush All-Time Records in Research & Forecast Report.

RALEIGH-DURHAM MULTIFAMILY Q Unprecedented Investment Sales Crush All-Time Records in Research & Forecast Report. Research & Forecast Report RALEIGH-DURHAM MULTIFAMILY Q4 2015 Unprecedented Investment Sales Crush All-Time Records in 2015 Market Indicators Relative to prior period - Q4 2014 - Q4 2015 Emily Bostic Research

More information

Office Leasing Activity Hits a Road Bump In Omaha and Nationally

Office Leasing Activity Hits a Road Bump In Omaha and Nationally Research & Forecast Report OMAHA OFFICE Fourth Quarter 2017 Office Leasing Activity Hits a Road Bump In Omaha and Nationally In the fourth quarter of 2017, the Omaha office market experienced negative

More information

TRANSWESTERN OUTLOOK DC AT Q1O8

TRANSWESTERN OUTLOOK DC AT Q1O8 TRANSWESTERN OUTLOOK DC AT Q1O8 Even With Soft Office Absorption, Vacancy Remains Low; Rents Continue to Edge Up The District of Columbia s office market experienced steady conditions during the 1st quarter

More information

Opportunities Continue to Elude Users

Opportunities Continue to Elude Users Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL 2018 Opportunities Continue to Elude Users > Tri-Valley industrial market vacancy inched upward to 1.5 percent > The weighted average asking

More information

Overall Industrial Market Off to Solid First Quarter; Flex Market Rebounding

Overall Industrial Market Off to Solid First Quarter; Flex Market Rebounding Research & Forecast Report RALEIGH-DURHAM INDUSTRIAL Overall Industrial Market Off to Solid First Quarter; Flex Market Rebounding Emily Bostic Research Analyst Raleigh-Durham Key Takeaways > > The Triangle

More information

2018: The Year of Office Sales

2018: The Year of Office Sales Research & Forecast Report RENO OFFICE Q4 2018 2018: The Year of Office Sales >> Multiple significant office sales over 10,000 square feet >> Large blocks of space returned to the market increasing vacancy

More information

Holding Steady NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators

Holding Steady NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q2 2018 Holding Steady > > Office Inventory: 16,998,288 Square Feet > > Vacancy: 14.5 percent > > Net absorption: 25,027 square feet year-to-date

More information

RALEIGH-DURHAM MULTIFAMILY. Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand. Research & Forecast Report.

RALEIGH-DURHAM MULTIFAMILY. Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand. Research & Forecast Report. Research & Forecast Report RALEIGHDURHAM MULTIFAMILY MidYear 2018 Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand Ed Finley Research Analyst RaleighDurham Market Indicators Relative

More information

Gaining Traction Gradually in 2018

Gaining Traction Gradually in 2018 Research & Forecast Report RENO OFFICE Q1 2018 Gaining Traction Gradually in 2018 >> Overall vacancy increased slightly to 12.3% >> Negative net absorption of 13,792 square feet >> Rental rates remained

More information

Testing the Waters. ST. LOUIS OFFICE Second Quarter Research & Forecast Report. Market Indicators Q Q Q FORECAST

Testing the Waters. ST. LOUIS OFFICE Second Quarter Research & Forecast Report. Market Indicators Q Q Q FORECAST Research & Forecast Report ST. LOUIS OFFICE Second Quarter 2017 Testing the Waters In the second quarter 2017, an increasing number of Class A office property owners have begun testing the waters and placing

More information

The Woodlands office submarket snapshot

The Woodlands office submarket snapshot Gosling Rd. Research Snapshot THE WOODLANDS OFFICE Q2 218 office submarket snapshot Lisa Bridges Director of Market Research Houston Once again, office submarket performed well over the quarter, posting

More information

The Market Is Energized By Increased Development In Hollywood

The Market Is Energized By Increased Development In Hollywood OFFICE CENTRAL LOS ANGELES MARKET REPORT The Market Is Energized By Increased Development In Hollywood MARKET OVERVIEW MARKET INDICATORS - VACANCY 20.5% NET ABSORPTION 24,100 CONSTRUCTION 574,000 RENTAL

More information

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP SECOND QUARTER NEWSLETTER 216 HOT TOPICS Capital markets remain a focus with 14 assets either under contract or sold totaling $2.6 billion, which includes

More information

Mixed-Use Dominates Downtown Development

Mixed-Use Dominates Downtown Development Research & Forecast Report GREENVILLE, SC OFFICE Q4 2016 Mixed-Use Dominates Downtown Development Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Mixed-use development has succeeded

More information

Sleepy Close to 2017 PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report Market Indicators

Sleepy Close to 2017 PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report Market Indicators Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q4 Sleepy Close to > Tri-Valley vacancy reported 10.4 percent, up slightly from the previous quarter > Weighted average asking rents remained flat

More information

>> 2017 Begins With Continued Strong Demand

>> 2017 Begins With Continued Strong Demand Research & Forecast Report Central Los Angeles OFFICE Q1 217 Accelerating success. >> 217 Begins With Continued Strong Demand Key Takeaways > Hudson Pacific's Icon at Sunset property delivered 323,3 square

More information

Mar ket Glance. AT A AT Market Glance

Mar ket Glance. AT A AT Market Glance AT A AT Market Glance HOUSTON WASHINGTON, OFFICE D.C. MARKET OFFICE MARKET REPORT REPORT THIRD FOURTH QUARTER 213 214 PROPERTY PROPERTY SERVICES SERVICES DEVELOPMENT DEVELOPMENT INVESTMENT INVESTMENT Q4

More information

Raleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come

Raleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come Research Report RALEIGH-DURHAM INDUSTRIAL Q1 2018 Raleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come Key Takeaways > > The demand for industrial space in the Raleigh-Durham

More information

Vacancy Inches Higher, Despite Continued Absorption

Vacancy Inches Higher, Despite Continued Absorption Research & Forecast Report GREATER PHOENIX OFFICE 1Q 2017 Vacancy Inches Higher, Despite Continued Absorption Key Takeaways > > Improving conditions in the Greater Phoenix office market took a pause in

More information

LUTON Investor Information

LUTON Investor Information LUTON Investor Information LUTON Investor Information LUTON OVERVIEW Credited as one of the country s top five most affordable towns and one of the fastest growing areas for business and regenerative growth,

More information

>> Hollywood Market Activity Flattens

>> Hollywood Market Activity Flattens Research & Forecast Report Central Los Angeles OFFICE Q2 216 Accelerating success. >> Hollywood Market Activity Flattens Key Takeaways > There is currently 533,6 square feet () of office product under

More information

>> 2016 Off to A Good Start for Tri-Cities

>> 2016 Off to A Good Start for Tri-Cities Research & Forecast Report TRI-CITIES OFFICE Q1 216 Accelerating success. >> 216 Off to A Good Start for Tri-Cities Key Takeaways > The Tri-Cities office market saw vacancy decline for the seventh consecutive

More information

Available Scarcity: Looking for Space in 2016

Available Scarcity: Looking for Space in 2016 Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL Q4 Available Scarcity: Looking for Space in 2016 > Hitting an all-time low, overall vacancy drops to 4.4 percent. > Overall weighted average

More information

Continued Malaise PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report Market Indicators

Continued Malaise PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report Market Indicators Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE 2018 Continued Malaise > A slight uptick in vacancy to 10.9 percent proved a relatively flat quarter > Weighted average asking rents increased slightly

More information

Industrialists and landlords to brace for challenges in 2016

Industrialists and landlords to brace for challenges in 2016 Research & Forecast Report SINGAPORE INDUSTRIAL Q1 2016 Industrialists and landlords to brace for challenges in 2016 Doreen Goh Associate Director, Research and Advisory Leasing activities in the industrial

More information

STABLE OCCUPANCY DESPITE RAMPED UP SUPPLY

STABLE OCCUPANCY DESPITE RAMPED UP SUPPLY COLLIERS QUARTERLY RESIDENTIAL MANILA Q3 2018 20 NOVEMBER 2018 Joey Roi Bondoc Manager Research Philippines +(632) 858 9057 Joey.Bondoc@colliers.com STABLE OCCUPANCY DESPITE RAMPED UP SUPPLY Summary &

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Q2 17 Q2 18 MSA Employment 1.1M 1.1M MSA Unemployment 3.3% 3.0% U.S. Unemployment 4.3% 3. Market Indicators (Direct, All Classes) Q2 17 Q2 18 Total Market Vacancy

More information

Omaha s Office Vacancy Rate Is The Lowest In 15 Years

Omaha s Office Vacancy Rate Is The Lowest In 15 Years Research & Forecast Report OMAHA OFFICE Second Quarter 2015 Omaha s Office Vacancy Rate Is The Lowest In 15 Years Availability in the Omaha Office Market continues to decrease as the vacancy rate contracted

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Market Indicators (Direct, All Classes) Direct Net Absorption/Direct Asking Rent 4-QTR TRAILING AVERAGE Direct Vacancy Q3 17 Q3 18 MSA Employment 1.05M 1.07M MSA

More information

Americas Office Trends Report

Americas Office Trends Report AMERICAS OFFICE TRENDS REPORT Americas Office Trends Report Summary The overall national office market recovery slowed slightly in the first quarter of 2016 amid financial market volatility. However, as

More information

>> Orange County Vacancy Continues to Decline

>> Orange County Vacancy Continues to Decline Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> Orange County Continues to Decline Key Takeaways > The South County submarket led the Orange County market in overall net absorption

More information