Search
 

2012 May Be a Forgettable Office Year

NEW YORK CITY-Both the United States and Europe are looking at flat growth prospects for corporate users, with technology, energy and constrained space the only reasons for movement.

By Robert Carr | Updated on December 09, 2011

NEW YORK CITY-Just skip next year and plan on ownership or investment in 2013, according to most reports, and Cushman & Wakefield’s Global Office Forecast is no different. The continued uncertainty in Europe and the weak US fundamentals has projected flat office growth throughout the two continents, with Asia and South America the only bright spots next year.

Office rent stagnation is well known in the United States (except for high-tech and energy markets, such as San Francisco), and is expected to be the trend for Europe as well, Maria Sicola, executive managing director and head of Americas research for Cushman, tells GlobeSt.com. However, whereas rent growth is predicted to return in 2013 with better fundamentals in the United States, that’s not the case in Europe, she says. “The markets there are going to take longer to recover,” Sicola says. “I don’t see rent growth there even into 2013.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.