Search
 

Survey of Office Markets: San Jose, San Francisco, Seattle on Top

IRVINE, CA—Rankings based on projected net operating income, vacancy and rental rates, economic strength, job market and valuations as reflected in Auction.com Research long-term forecast.

By David Phillips | Updated on August 17, 2015

IRVINE, CA—Auction.com today released its rankings of the national office sector’s top buy and sell markets based on current and expected fundamentals. San Jose, CA, San Francisco, Seattle, Orange County, CA, and New York City topped Auction.com’s list of buy markets, each boasting strong demographics, one or more booming business sectors and improving payroll growth.

Pittsburgh, Fort Worth, Texas, Houston, Memphis, TN, and Cincinnati were identified as the most recommended sell markets based on factors specific to each, including dependence on the energy sector, weak employment growth or lethargic demographics. “As nationwide office fundamentals continue to recover in 2015 and the tech industry paces the nation’s best-performing markets, investors still must take note of the sharp contrasts between the have and have-not markets,” said Auction.com chief economist Peter Muoio. “Investors will find sustained rent growth and strong occupancy on the West Coast and in tech-driven markets that we predict will enjoy continued success. Other markets, meanwhile, face an abundance in supply that is overwhelming demand and weighing on rent, and this could persist.”

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.