Despite all the economic tension there has recently been due to the European
crisis, to weak labor markets and a slowed economy in the US, many are
wondering what has happened with the office market. While some cities as San
Francisco keep a steady growth, other cities face a half speed recovery.
Here are some highlight if the report published by
REIS Inc:
·
National vacancy rates remained unchanged from the
first quarter of 2012.
·
Asking and effective rent went down from 0.5 to
0.3% during the second quarter of the year.
·
There was 1.6 million Square feet of new supply.
The weakest level of supply growth since 1999
But these some cities continue to show rent growth and a steady market:
·
San Francisco
·
New York
·
Washington DC
·
San Jose
·
Boston
·
Austin
·
Seattle
·
Denver
Given that many technology companies are based out of
San Francisco and
surrounding areas as
San Bruno and
San Jose, that area is expected to have the
greatest rent increase in the country this year.
We still have half of the year ahead of us; there might be more surprises,
more acquisitions and more expansions.
If you would like to contact
OfficeList to share some news about your offices,
please call us at (866) 354-5478.
Labels: Office Market, second quarter 2012 office news