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 | Oct 8, 2019
David Chipperfield Architects to design new Rolex USA headquarters
The project will replace the existing building that has been occupied by Rolex since the 1970s.
Healthcare Facilities | Oct 1, 2019
Medical offices are filling space vacated by retail
Healthcare developers and providers like the locations, traffic, and parking these spaces offer.
Office Buildings | Sep 25, 2019
'Catalyst' will be Washington’s first CLT office building
Katerra is the design builder for the project with Michael Green Architecture as the design architect.
Office Buildings | Sep 6, 2019
New office complex in Southern California strives to create a Silicon Valley-like campus vibe
FLIGHT at Tustin Legacy includes 100,000 sf of amenities, and is laid out to tie into the surrounding city.
Office Buildings | Sep 3, 2019
A new HOK report focuses on designing offices for a neurodiverse workforce
Emphasizing inclusion and choice is a key component.
Giants 400 | Aug 8, 2019
Top 110 Office Sector Construction Firms for 2019
Turner, STO Building Group, AECOM, Clayco, and Clark lead the rankings of the nation's largest office sector contractors and construction managers, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
Top 100 Office Sector Engineering Firms for 2019
Jacobs, Burns & McDonnell, WSP, Thornton Tomasetti, and Arup head the rankings of the nation's largest office sector engineering and engineering architecture (EA) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
Top 200 Office Sector Architecture Firms for 2019
Gensler, AECOM, Perkins+Will, Stantec, and HOK top the rankings of the nation's largest office sector architecture and architecture engineering (AE) firms, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
2019 Office Giants Report: Demand for exceptional workplaces will keep the office construction market strong
Office space consolidation and workplace upgrades will keep project teams busy, according to BD+C's 2019 Giants 300 Report.
Office Buildings | Jul 12, 2019
How Millennials, Gen Z, and technology are changing workplace design
In the workplace, the only constant is change.
