Search
 

US Office Market Will Stay Vigorous in 2018

Experts say the economy will most likely generate enough demand to sustain the market’s dynamism.

Nashville has had the nation’s most dynamic office market, and illustrates how secondary cities have become so important.

CHICAGO—The US office market remained vigorous in 2017 with occupancy staying at peak levels and rents holding firm, according to a new report from Colliers International. The vacancy rate has been quite low for an unusually long stretch of time, and experts say the economy will most likely generate enough demand to sustain that dynamism even longer.

“We are in new territory,” Stephen Newbold, Colliers’ national director of office research, tells GlobeSt.com. “Normally, we see dramatic ups and downs,” but by the end of 2017, the vacancy rate had been static for eight successive quarters as supply and demand were in relative balance. It fell 30 bps in the fourth quarter to just 12.0%, or marginally lower than the level seen at the peak of the previous cycle.

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.

Brian J. Rogal

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.

More from this author

Recommended Stories

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.