Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. Eliza writes for both PropertyShark and CommercialEdge. Reach her at [email protected]
As office construction continues to cool, a quarter of under-construction office space is now concentrated in just 6 life-science-heavy markets.
With so many headwinds impacting the sector, office landlords are faced with tough decisions as the future of offices remains unclear.
While industrial deliveries hit a new high in 2022, supply is still behind demand, and 2023 is set to be another robust year for development.
Higher interest rates will likely hamper new supply as well as sales activity in 2023, while tenants’ flight-to-quality expected to persist.
The average listing rate for office space stood at $38.06 in November, while vacancies rested at 16.2% across the top 50 U.S. office markets.
National industrial in-place rents averaged $6.95 per square foot, up 5.8% year-over-year as demand remains strong
The average listing rate for office space stood at $37.94 in October, while vacancies rested at 16.3% across the top 50 U.S. office markets.
Two plus years into the pandemic, the status quo in the office sector is uncertainty, with conflicting outlooks for all facets of the industry.
Industrial tenants continue to pay increasing lease rates, with new contracts $1.38/sq .ft higher than in-place rents.
The average listing rate for office space stood at $35.67 in September, while vacancies rested at 16.6% across the top 50 U.S. office markets.
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