Office Landlords in Northeast Offer an Array of Amenities to Attract Tenants

In the largest office markets of the Northeast, landlords are competing to attract valuable corporate tenants by providing the highest quality work-life balance for the region’s talented workforce. The Boston, New York and Philadelphia office markets are among the most competitive in the country. While factors like salary, commute time and personal fulfilment remain important in deciding where to work, employees are now placing more emphasis on amenities and work-life balance in their final …

January 15, 2020Market Reports, Northeast, Northeast Market Reports, Office

Dallas, Fort Worth Office Markets See Strong Growth in Professional Services

The Dallas office market has changed drastically over the past 10 years. Though Far North Dallas has gotten its fair share of notoriety during this time (and justifiably so), the fundamentals of North Texas as a great place for business are sparking growth and activity across the market for established companies and those looking to relocate. Consider Las Colinas, which over the last few years has seen several major headquarter relocations, including large healthcare providers that have …

December 27, 2019Market Reports, Office, Texas, Texas Market Reports

Mass Timber Emerges as Preferred Construction in New Hampshire Office Market

If you’ve spent time in quaint New England cottages, you know that unique indoor environment can conjure feelings of warmth, happiness and comfort. Exposed wood inside of houses provides sensations of coziness and security that have been emulated in biophilic design — a term referring to the human connection with nature — across America. So why hasn’t this warm and healthy feeling spread to America’s offices? We’ve seen the mill brick buildings and the steel and concrete office …

December 20, 2019Market Reports, New Hampshire, Northeast, Northeast Market Reports, Office

Brooklyn and Queens: Worthy Alternatives to Overpriced Manhattan Office Market?

New York City is one of the priciest office markets in the world, with Manhattan housing the core business district of the city. The borough has always been the place to be — the ultimate live-work-play destination that houses the big corporations and the talent that recruiters look for. Overall, office asking rents in Manhattan fell only slightly during the third quarter to $74 per square foot, per Cushman & Wakefield, while rents in some submarkets continued to rise. In highly …

December 13, 2019Market Reports, New York, Northeast, Northeast Market Reports, Office

Texas Office Owners: Sell or Hold?

While rumors of a looming recession dot the mainstream media landscape and pervade conversations at bars and water coolers, Dallas-Fort Worth (DFW) and Austin are humming along with the kind of healthy job growth that reduces that talk to little more than a whisper. Growth in office-using sectors like tech, finance, engineering and business services in both the state’s capital and largest metropolis continues to fuel demand for space, push rents to new levels and drive price appreciation …

December 10, 2019Market Reports, Office, Texas, Texas Market Reports

Developers Adapt to Tight Office Market in Northeast

Office vacancies are falling across the big metros of the Northeast as robust user demand outpaces the supply of new construction. Deliveries in the last year have primarily been limited to Class A, build-to-suit properties and mixed-use developments. Meanwhile, office tenants are seeking high-end amenities at favorable prices. Nationally, the office vacancy rate stood at 16.8 percent in the second quarter, up slightly from 16.6 percent a year ago, according to real estate research firm Reis. …

December 4, 2019Market Reports, Massachusetts, New York, Northeast, Northeast Market Reports, Office, Pennsylvania

Strong Mix of Fortune 500 Companies Helps Fuel Growth of Twin Cities

Even in the context of a sustained stretch of national economic growth and a Midwest region where there are plenty of high-performing markets, Minneapolis-St. Paul stands out. The commercial real estate market in and around the Twin Cities is thriving, in large part due to some impressive structural fundamentals. Metrics and measurables The state of Minnesota — especially the Minneapolis-St. Paul metro area — has a very diverse base of employment, with a long list of significant Fortune …

November 21, 2019Market Reports, Midwest, Midwest Market Reports, Minnesota, Office

Houston Office Market Still Battling Depressed Energy Prices

As we enter the fourth quarter, Houston’s office market remains sluggish due primarily to uncertainty in the energy industry. With the price of West Texas Intermediate crude fluctuating between $45 and $60 per barrel, the market has seen minimal oil company expansions. With the pricing outlook remaining on a bleak to flat trajectory, little growth in office occupancy is expected in the next 18 to 24 months. The cycle favors tenants, now and for the foreseeable future. Should energy …

November 19, 2019Market Reports, Office, Texas, Texas Market Reports

Office Amenities Influence Talent Wars in Texas

Office buildings that have been newly constructed or recently rehabilitated are fielding the greatest demand from large companies, which are banking on the idea that lifestyle-enriching amenities and a vibrant surrounding neighborhood create advantages in attracting and retaining talent. According to the Bureau of Labor Statistics, during the 12-month period ending in July, the four major office markets of Texas added more than 200,000 new jobs combined. The state’s unemployment rate was …

November 12, 2019Market Reports, Office, Texas, Texas Market Reports

Austin, San Antonio Office Markets Move Closer While Retaining Distinct Drivers

The phenomenal growth taking place in Austin and San Antonio has shown little sign of slowing over the past several years. These two mid-size Texas cities are developing quickly and continue to undergo rapid change. Both are ranked in the top 10 fastest-growing metro areas in the country and both have unemployment levels at near-record lows. Tenant Profiles The industries driving the economy in these two central Texas cities are quite different. Each has strong tourism sectors, but that is …

October 25, 2019Market Reports, Office, Texas, Texas Market Reports