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
Sustainability | Jul 10, 2017
British Columbia receives its first WELL certified workplace courtesy of Perkins + Will
Over 100 wellness features are incorporated into CBRE’s Vancouver office.
Office Buildings | Jul 5, 2017
Do open offices work?
Whether for a team of 20 or 200, if today’s professionals are not currently working in an open office environment, a change is likely on the horizon.
Office Buildings | Jun 27, 2017
Bloomberg’s European headquarters wants to become a natural extension of London
Foster + Partners’ design rises 10 stories and is composed of two connected buildings.
Office Buildings | Jun 20, 2017
Mattress company’s new ‘BEDQuarters’ definitely won’t put employees to sleep
The HQ is packed with amenities and features to keep team members happy and engaged at work.
Building Team Awards | Jun 14, 2017
A space for all: Lighthouse for the Blind and Visually Impaired
Nonprofit HQ fitout improves functionality, accessibility for blind and low-vision individuals.
Office Buildings | Jun 13, 2017
WeWork takes on a construction management app provider
Fieldlens helps turn jobsites into social networks.
Building Team Awards | Jun 12, 2017
Texas technopark: TechnipFMC John T. Gremp Campus
Silver Award: TechnipFMC’s new campus marks the start of a massive planned community in north Houston.
Office Buildings | Jun 12, 2017
At 11.8 million-sf, LG Science Park is the largest new corporate research campus in the world
The project is currently 75% complete and on schedule to open in 2018.
Building Team Awards | Jun 8, 2017
Raising the bar: Zurich North American Headquarters
Silver Award: Forgoing a typical center-core design, the Zurich North America Headquarters rises 11 stories across three stacked bars.
Office Buildings | Jun 8, 2017
Take a look at the plans for Google’s new 1 million-sf London campus
Heatherwick Studio and BIG are designing the 11-story building.
