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.
Growing investor interest has pushed Austin’s to over 10MSF of under construction office space, the highest figure nationwide.
Nationally, $18.9 billion in office sales were recorded in the first quarter of 2022, with over $7.5 billion signed in just six top markets.
Office rents and vacancies remained stable through February as the construction pipeline continued to contract.
Office construction pipeline declines, while medical office buildings continue to attract increasing amounts of investor attention.
Average office asking rents in Tampa saw a higher year-over-year increase than Los Angeles office space, in August.
The emergence of the delta variant is pushing back return-to-office dates, but rents remain stable and vacancies are cooling.