Our latest research report — The Q3 2019 Top Office Markets Snapshot — presents the key trends and statistics for the top 10 office markets in the U.S.
- The leading office markets in the U.S. remain, for the most part, on solid ground. While the third quarter wasn’t exceptional, rents are still rising, construction is largely in check and vacancy rates are holding firm.
- Seven of our top 10 office markets posted positive absorption in the third quarter with levels rising in five. Where negative absorption did occur, it was mostly marginal and is not seen as indicative of a shift in market direction.
- Vacancy rates fell in three markets and held firm in five more. Where vacancy is on the rise it is indicative of new supply entering the market. Strong tenant preference for high-end new space suggests that new product will lease up successfully.
- Rental trends remain encouraging with average asking rates rising in six markets and holding steady in three more. Where rents did fall, they were coming off a record high.
For more details on the latest office trends in these top metro markets, download the Q3 2019 U.S. Top Office Metros Snapshot and look for our full Q3 2019 U.S. Office Report coming soon.