CHICAGO—Despite global economic uncertainty, the US economy continued to expand in 2015 through both employment and output. As a result, office market fundamentals across the US showed no signs of a slowdown, with occupancy growing at a rate 1.3 times faster than new supply, according to a new report by JLL.
The nation's CBDs remain quite healthy, as reflected in the 12.1% vacancy rate, but JLL found that pricing and competition has also encouraged tenants to look to the suburbs in increasing numbers.
Perhaps most significant, 2015 was the year of growth as nearly 50% of leasing activity represented company expansions, on average, while a mere 8.3% was the result of company downsizing.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
