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
| Sep 6, 2013
U40 Summit featured speaker: Arthur Gensler on how to build a world-class AEC practice
Gensler, founder of the world’s largest architecture firm, will talk about the role of the architect in society, the impact of great design, and the practicalities of starting and running a practice, and will offer advice for today’s young design and construction professionals.
| Sep 4, 2013
Augmented reality: 12 applications for design and construction professionals
Building Design+Construction reached out to AEC professionals who have studied and applied augmented reality and asked them to pinpoint applications that are ripe for the technology. Here’s what they had to offer.
| Sep 4, 2013
Augmented reality goes mainstream: 12 applications for design and construction firms
Thanks to inexpensive mobile devices and increasingly advanced software apps, Building Teams are finally able to bring their BIM models to life on the job site.
| Sep 4, 2013
K-12 school design that pays off for students
More and more educators are being influenced by the Reggio Emilia approach to pedagogy, with its mantra of “environment as the third teacher”—an approach that gives Building Teams a responsibility to pay even closer attention to the special needs of today’s schools.
| Sep 4, 2013
Smart building technology: Talking results at the BUILDINGChicago/ Greening the Heartland show
Recent advancements in technology are allowing owners to connect with facilities as never before, leveraging existing automation systems to achieve cost-effective energy improvements. This BUILDINGChicago presentation will feature Procter & Gamble’s smart building management program.
| Sep 4, 2013
Last chance to pre-register for BUILDINGChicago/Greening the Heartland Conference at 20% savings
Attendees of the BUILDINGChicago/Greening the Heartland Expo and Conference can still save 20% off the at-site registration fee by registering online in these final days before the event opens on September 9 and concludes on September 11.
| Sep 3, 2013
'School in a box' project will place school in San Diego public library
Thinking outside the box, LPA Inc. is designing a school inside a box. With an emphasis on three E’s—Engage, Educate, and Empower—e3 Civic High is now being constructed on the sixth and seventh floors of a public library in downtown San Diego. Library patrons will be able to see into the school via glass elevators, but will not have physical access to the school.
| Sep 3, 2013
Delinquency rate for commercial real estate loans at lowest level in three years
The delinquency rate for US commercial real estate loans in CMBS dropped for the third straight month to 8.38%. This represents a 10-basis-point drop since July's reading and a 175-basis-point improvement from a year ago.
| Sep 3, 2013
EDGE studio, GBBN announce merger
GBBN Architects and EDGE studio of Pittsburgh, Pennsylvania are very pleased to announce the merger of their firms under GBBN Architects effective September 1, 2013.
| Sep 3, 2013
Jon Pettit (1952-2013) - DLR Group Managing Principal
Jonathan (Jon) E. Pettit, AIA, died August 19, 2013 in Seattle following treatment for cancer. He was 61. Pettit was a DLR Group managing principal and practiced for his entire professional career with DLR Group.