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
Sponsored | Architects | Jul 19, 2017
Introducing StrXur by Bluebeam
Our goal is to present unique perspectives you may not be able to find anywhere else.
Sponsored | Accelerate Live! | Jul 13, 2017
Defining the future by mastering the art of change
From my perspective, what separates organizations thriving in the digital revolution from those who are not boils down to one thing: leadership.
Multifamily Housing | Jul 12, 2017
Midyear Rent Report: 26 states saw rental price increases in first half of 2017
The most notable rental increases are in growing markets in the South and Southwest: New Orleans, Glendale, Ariz., Houston, Reno, N.V., and Atlanta.
Giants 400 | Jul 12, 2017
Innovation abounds, but will it lead to growth for AEC Giants?
Engineering firms such as Arup, Glumac, and Thornton Tomasetti are leveraging their in-house expertise to develop products and tools for their design teams, clients, and even the competition.
Multifamily Housing | Jul 12, 2017
7 noteworthy multifamily projects: posh amenities, healthy living, plugged-in lifestyle
Zen meditation gardens, bocce courts, saltwater pools, and free drinks highlight the niceties at these new multifamily developments.
Accelerate Live! | Jul 6, 2017
Watch all 20 Accelerate Live! talks on demand
BD+C’s inaugural AEC innovation conference, Accelerate Live! (May 11, Chicago), featured talks on machine learning, AI, gaming in construction, maker culture, and health-generating buildings.
Healthcare Facilities | Jun 29, 2017
Uniting healthcare and community
Out of the many insights that night, everyone agreed that the healthcare industry is ripe for disruption and that communities contribute immensely to our health and wellness.
Architects | Jun 25, 2017
Stantec adds RNL Design to its stable, fortifying several of its business units
The engineering giant also names successor to CEO who will retire at the end of this year.
Building Team | Jun 22, 2017
Seven lessons learned on commissioning projects
Commissioning is where the rubber meets the road in terms of building design.
Sponsored | Building Team | Jun 20, 2017
Plan ahead when building in the west
Getting a project through plan review can be an unusually long process, anywhere from six months to two years.
