The office market has showed no signs of a slowdown.
A recent report by real estate research firm JLL found that, in the fourth quarter of 2015, occupancy growth rate 1.3 times that of new supply.
Construction Dive has more information from the report. Other figures include:
- Last year’s total leasing volume increased 2.5% to 241.9 million sf over the last year.
- The tech industry represented 15.6% of the fourth-quarter leasing activity, and banking and financial services made up 11.2%.
- Total vacancies were at its lowest levels in eight years, falling to 14.7%.
- In terms of new developments, The top 10 U.S. markets accounted for 60 million sf of the 88 million sf being constructed currently.
- Growth is expected in 2016, as the nation will see 48.9 million sf of new supply, up 4.7 million sf from 2015.
- Nearly 50% of leasing activity was toward company expansions, compared to 8.3% towards downsizing.
Related Stories
Office Buildings | Jan 26, 2022
BlackRock’s Innovation Hub in Atlanta showcases its global design guidelines
The two-story space harkens to the city’s culture and past.
Coronavirus | Jan 20, 2022
Advances and challenges in improving indoor air quality in commercial buildings
Michael Dreidger, CEO of IAQ tech startup Airsset speaks with BD+C's John Caulfield about how building owners and property managers can improve their buildings' air quality.
3D Printing | Jan 12, 2022
Using 3D-printed molds to create unitized window forms
COOKFOX designer Pam Campbell and Gate Precast's Mo Wright discuss the use of 3D-printed molds from Oak Ridge National Lab to create unitized window panels for One South First, a residential-commercial high-rise in Brooklyn, N.Y.
Headquarters | Oct 28, 2021
Florida’s Seagate Development Group tackles design-build projects from a developer’s vantage
A “single point of contact” for clients, says its CEO.
Office Buildings | Oct 26, 2021
A massive office reno project in Detroit sought to create destination spaces for returning workers
The interior design firm Pophouse relied heavily on employee input for a pilot remodel.
Cladding and Facade Systems | Oct 26, 2021
14 projects recognized by DOE for high-performance building envelope design
The inaugural class of DOE’s Better Buildings Building Envelope Campaign includes a medical office building that uses hybrid vacuum-insulated glass and a net-zero concrete-and-timber community center.
Office Buildings | Oct 21, 2021
Swinerton opens new regional headquarters in Charlotte
Redline Design Group designed the adaptive reuse project.
Office Buildings | Oct 18, 2021
Henning Larsen designs new headquarters building for KAB
The project is located in Copenhagen.
Glass and Glazing | Sep 30, 2021
Plans move forward on Central Place Sydney, duel towers with an AI-driven façade system
SOM and Fender Katsalidis are designing the project.
Office Buildings | Sep 29, 2021
Walmart’s new Home Office is the largest mass timber campus project in the U.S.
The project will occupy approximately 350 acres.
