IRVINE, CA—As the office market regains its footing via creative and progressive space, investors continue to eye the sector. Ten-X Commercial's Summer 2017 Office report reveals the top-five buy and sell markets nationwide. The picks are based on projected NOI growth, vacancy improvement, rent change and valuations as reflected in the Ten-X Research Long-Term Forecast.
The Ten-X Research Office Market Outlook shows that progress in the US office market continues to be agonizingly slow, which is largely the result of a conflation between markets that have had strong economies this cycle versus those that have lagged.
The report shows that the New York City, Seattle and Bay Area office markets have enjoyed strong economies and absorption this cycle, but the considerable development they now face in the coming years is dampening their outlook. Weaker economies, mostly in the Midwest, face far less development; however, their poor absorption is also translating to weak fundamentals. Some Southern markets continue to struggle with the oil price fallout; Houston has seen negative office absorption in three of the last four quarters, bringing vacancies to 18.2%, their highest since 2004.
Click here to find out more, and watch the video below to see the top five buy and sell markets.
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