After 7 consecutive quarters of growth, in Q3 2022 the national average sale price came in $6 below Q2, resting at $131/sq. ft.
National lease spread hits historic high at $1.45 per square foot, with some markets, like Los Angeles, are seeing gaps as wide as $4.89.
Demand for coworking spaces nears pre-pandemic levels, even as office vacancies continue to climb, hitting 15.1% nationally.
Q2 closes as the 7th consecutive quarter of price increases for industrial assets, with the national average sale price reaching $138/sq. ft.
Boston remains the only leading market where the vacancy rate is under 10% thanks to strong life sciences sector.
The national vacancy rate contracted to 4.7%, as sustained demand for industrial space continues to tighten vacancies across the U.S.
More than $8B in office sales were recorded in May nationally, raising the number of cities with more than $1B in office sales from 10 to 14.
The national industrial sales price reached $135 PSF for a $19 billion year-to-date total, despite slower sales activity than in 2021.
Growing investor interest has pushed Austin’s to over 10MSF of under construction office space, the highest figure nationwide.