Is there life after death? Judging by the commercial office sector, maybe there is. After several years in an advanced stage of morbidity, propped up largely by tenant fitouts and renovations, the office sector may be starting to show signs of life.
The ULI Center for Capital Markets and Real Estate recently stated (based on data from CBRE) that the sector is expected to show “steady and substantial three-year improvements,” with vacancy rates declining from 15.4% this year, to 14.4% in 2013 and 12.3% by year-end 2014.
Rental rates should be up 3.7% in ’13, says the ULI. +
TOP 25 OFFICE SECTOR ARCHITECTURE FIRMS
| Rank | Company | 2011 Office Revenue ($) |
| 1 | Gensler | 432,000,000 |
| 2 | HOK | 144,865,720 |
| 3 | Perkins+Will | 103,737,646 |
| 4 | HDR Architecture | 40,800,000 |
| 5 | Kohn Pedersen Fox Associates | 40,030,000 |
| 6 | Hammel, Green and Abrahamson | 39,600,000 |
| 7 | NBBJ | 38,830,000 |
| 8 | RTKL Associates | 38,055,565 |
| 9 | Nelson | 36,223,716 |
| 10 | SmithGroupJJR | 30,700,000 |
| 11 | Heery International | 29,004,000 |
| 12 | PageSoutherlandPage | 28,130,000 |
| 13 | HLW International | 26,750,000 |
| 14 | HNTB Architecture | 25,231,479 |
| 15 | Cannon Design | 23,000,000 |
| 16 | IBI Group | 22,391,853 |
| 17 | EYP Architecture & Engineering | 20,000,000 |
| 18 | Little | 19,739,500 |
| 19 | LEO A DALY | 16,832,770 |
| 20 | Ware Malcomb | 16,762,000 |
| 21 | DLR Group | 14,000,000 |
| 22 | ZGF Architects | 13,227,504 |
| 23 | RSP Architects | 13,151,000 |
| 24 | HKS | 12,227,874 |
| 25 | Corgan Associates | 12,109,000 |
TOP 25 OFFICE SECTOR ENGINEERING FIRMS
| Rank | Company | 2011 Office Revenue ($) |
| 1 | AECOM Technology Corp. | 1,291,000,000 |
| 2 | Jacobs | 261,100,000 |
| 3 | Parsons Brinckerhoff | 127,900,000 |
| 4 | Science Applications International Corp. | 116,240,000 |
| 5 | URS Corp. | 58,000,000 |
| 6 | Burns & McDonnell | 43,493,660 |
| 7 | Michael Baker Jr., Inc. | 42,890,000 |
| 8 | Stantec | 42,300,000 |
| 9 | Dewberry | 41,215,530 |
| 10 | Thornton Tomasetti | 34,780,000 |
| 11 | WSP USA | 34,500,000 |
| 12 | ESD/Environmental Systems Design | 22,900,000 |
| 13 | Arup | 19,146,849 |
| 14 | Syska Hennessy Group | 18,504,074 |
| 15 | AKF Group | 15,500,000 |
| 16 | Sebesta Blomberg | 14,590,000 |
| 17 | GHT Limited | 13,891,000 |
| 18 | Clark Nexsen | 13,029,482 |
| 19 | Glumac | 11,736,618 |
| 20 | KPFF Consulting Engineers | 10,000,000 |
| 21 | R.G. Vanderweil Engineers | 9,354,500 |
| 22 | Wiss, Janney, Elstner Associates | 8,967,000 |
| 23 | RDK Engineers | 8,835,000 |
| 24 | H&A Architects & Engineers | 7,757,000 |
| 25 | Interface Engineering | 7,290,488 |
TOP 25 OFFICE SECTOR CONSTRUCTION FIRMS
| Rank | Company | 2011 Office Revenue ($) |
| 1 | Turner Corporation, The | 1,489,944,482 |
| 2 | Clark Group | 1,148,992,603 |
| 3 | Structure Tone | 1,004,320,000 |
| 4 | Balfour Beatty US | 825,948,471 |
| 5 | Hensel Phelps Construction | 619,660,000 |
| 6 | Gilbane Building Co. | 617,058,000 |
| 7 | PCL Construction Enterprises | 594,444,509 |
| 8 | BL Harbert International | 589,000,000 |
| 9 | James G. Davis Construction Corp. | 450,000,000 |
| 10 | Clayco | 426,000,000 |
| 11 | Suffolk Construction | 388,644,645 |
| 12 | Whiting-Turner Contracting Co., The | 386,520,693 |
| 13 | Holder Construction | 327,000,000 |
| 14 | Tutor Perini Corp. | 312,940,000 |
| 15 | Weitz Company, The | 302,418,397 |
| 16 | Ryan Companies US | 288,463,756 |
| 17 | DPR Construction | 261,922,722 |
| 18 | Jacobs | 261,100,000 |
| 19 | Webcor Builders | 229,121,806 |
| 20 | Mortenson | 221,980,000 |
| 21 | Walsh Group, The | 211,738,006 |
| 22 | JE Dunn Construction | 203,050,158 |
| 23 | Pepper Construction Group | 197,357,000 |
| 24 | Jones Lang LaSalle | 180,000,000 |
| 25 | Lend Lease | 173,228,092 |
Related Stories
Multifamily Housing | Oct 9, 2017
6 new products for the multifamily construction market
Bamboo wall panels, an adaptable prep sink, and a two-tiered bike parking system are among the product innovations geared for multifamily buildings.
AEC Tech | Oct 6, 2017
How professional bias can sabotage industry transformation
Professional bias can take the form of change-resistant thinking that can keep transformational or innovative ambitions at bay. Tech consultant Nate Miller presents three kinds of bias that often emerge when a professional is confronted with new technology.
Giants 400 | Oct 6, 2017
Top 90 K-12 architecture firms
Stantec, DLR Group, and PBK top BD+C’s ranking of the nation’s largest K-12 sector architecture and AE firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Oct 5, 2017
On wings of gold: Alternative financing schemes are propelling the high-flyin’ air terminals sector
The $4 billion renovation of New York City’s LaGuardia Airport is the first major U.S. aviation project delivered using a public-private partnership (P3) model.
Giants 400 | Oct 4, 2017
Top 40 airport construction firms
Hensel Phelps, Turner Construction Co., and Skanska USA top BD+C’s ranking of the nation’s largest airport sector contractors and construction management firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Oct 3, 2017
Top 30 airport architecture firms
Jacobs, Corgan, and Gensler top BD+C’s ranking of the nation’s largest airport sector architecture and AE firms, as reported in the 2017 Giants 300 Report.
Multifamily Housing | Sep 27, 2017
Pickleball, anyone?
Two-and-a-half million Americans are playing the game with the funny name.
Architects | Sep 25, 2017
Blending past, present, and future at a research center
The four-part mission of a garden of scientific research helped drive the design for the Beijing New Material Research & Development Center.
Architects | Sep 22, 2017
Design giants merge: FKP joins CannonDesign
The deal strengthens CannonDesign’s pediatric healthcare expertise, establishes presence in Texas and Ohio.
40 Under 40 | Sep 22, 2017
Meet the 40 Under 40 Class of 2017
These AEC stars are making their mark in business, philanthropy, and in their communities.
