Rising Oil Prices, Positive Quarterly Absorption Spell Hope for Houston Office Market

By Blake Virgilio, SIOR, CCIM, vice president at Colliers The Houston office market continued its very gradual stabilization with 27,000 square feet of positive absorption in the  third quarter. While that volume of absorption only represents roughly one floor of office space in a typical Houston office building, it’s the first time the market has posted a quarter of positive net absorption in the last two years.[caption id="attachment_305680" align="alignright" width="100"] Blake …

Lincoln Office Market Assesses Amount of ‘Shadow Space’

Historically, Lincoln, Nebraska, has been a resilient Midwestern city. Home to state and county governments and the University of Nebraska-Lincoln, it has weathered past economic ups and downs and provided steady growth close to 2 percent each year.  As COVID-19 restrictions ease, people are gradually returning to shop and find entertainment downtown, and new construction continues to rise above Lincoln’s skyline. Interestingly, the last time this many cranes were visible downtown was …

Chicago Office Market: Should I Stay or Should I Go?

A common question Chicago office brokers are hearing from clients these days is, “When is the best time to start negotiating with my landlord?” In fact, it is also a question brokers are asking themselves, contemplating when they should advise their clients to get into the market. The truth is: 1) it’s very hard to say, and 2) it depends on the situation.  Let’s explore what we do know. This is a historically tenant-favorable office market. Vacancy rates have increased from 13.8 …

Dallas Office Market: Do We Need, Want or Have to Return?

By Cynthia Cowen, managing director, Cushman & Wakefield Throughout the past 18 months, there has been an ongoing discussion about returning to the office. Culturally, financially, production-wise — does it make sense to return? There is so much that goes into making these decisions, and there isn’t a simple yes or no answer.  It might depend on the industry, the generational differences among employees, the job functions being performed and more. Baby boomers tend to be critical of …

Three Trends That Are Influencing Commercial Real Estate Design in Austin

By Travis Albrecht, design director, AIA, Gensler Austin is bursting at the seams — just ask anyone who is currently trying to buy a home here. According to the latest U.S. Census Bureau figures, the city’s population has increased by 22 percent since 2010. The city will continue to grow and evolve, but people are attracted to its longstanding welcoming and laid-back culture. How does that translate into design and urban planning for this expanding, vibrant metropolis? Here are the major …

Des Moines Office Market Is on the Rebound

By Chris Curran and Mark Mills, R&R Realty Advisors Would you rather earn more money or have a more flexible work/life balance? Before the pandemic, many employees gave the latter as their answer. But the amount of money employees claimed they would forego wasn’t exactly peanuts. According to a pre-pandemic study by career site Joblist, the average employee was willing to give up around $10,000 per year to have better work/life balance.  Fast forward to the present day and employees …

Demand for Class A Office Space, Flexible Work Routines Juxtaposed in Fort Worth

By Chris Doggett, executive vice president, Stream Realty Partners The allure of the Dallas-Forth Worth (DFW) market continues to make it one of the top corporate destinations in the country. This past year, DFW ranked number one in the nation in raw population growth. Specifically, an average of 328 people per day were added to the DFW fold, which equates to approximately 119,748 more residents this past year. This is truly an incredible stat and reflects the fact that the consistent, …

Despite Pandemic, Wichita Market Experiences Significant Urban Development

By Tom Johnson, NAI Martens The overall Wichita economy is not out of the woods yet, but numerous factors point to a continuation of the recovery from both the Great Recession and the impact of the pandemic. Since the significant employment downturn during the second quarter of 2020, the Wichita metro area has markedly recovered but remains well below 2019 non-farm employment. The seesaw unemployment rate has now declined to just over 5 percent. All employment sectors are expected to increase …

Toledo, Ohio Market Shows Stability in Various Areas

By Harlan Reichle, Reichle Klein Group As the Toledo, Ohio, area’s retail market proved to be stable and solid in the second half of 2020 and the industrial market continued a remarkable stretch of high performance since the Great Recession, 2020 was a tough year for the office market. However, all three property types have yet to register any negative COVID impact in our latest survey results. Retail Toledo’s retail market proved to be quite stable and solid during the second half of …

Tenant-Focused Approaches Fuel Leasing Growth Within New Jersey’s Suburban Office Markets

By Mark Meisner, president and founder, The Birch GroupFor many years, corporations have been rethinking their office space utilization, both in terms of square footage per employee and various configurations that allow employees to collaborate and thrive within office settings. As we look ahead to the return to the office, we are already hearing that corporate culture, the sharing of ideas and training of new hires have become driving forces in getting people back into the workplace.At …

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