Peter Muoio Muoio: “As Millennials begin to have children and re-think their living choices, urban-like suburbs may become the next hot location area in which to attract the workforce companies need.”

IRVINE, CA—Certain office markets have not been able to generate the job growth and leasing to work off the high vacancies left by the Great Recession, and other markets that enjoyed stronger fundamentals are now contending with increased supply, Ten-X‘s chief economist Peter Muoio tells GlobeSt.com.

According to a report from the firm, the office segment saw 0.6% growth in January, making it the only segment to post an increase for the month. However, this growth only partially reversed the sharp 0.8% decline from December, and pricing in the office segment remains flat. Searches related to office demand fundamentals were a primary driver for this month’s increase, which correlates with the broader strength in economic indicators, and the regional picture remains mixed, with large gains in the Southwest and Northeast offsetting declines in the other three regions.

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.