Even with Amazon holding off on several office projects as it chooses to reevaluate the designs to suit hybrid work, the second half of the year should be a strong one for new office development, according to Allyn Thorpe, senior research analyst, Colliers, in a report issued this week.
Perhaps more importantly, Thorpe said that preleasing activity, a leading indicator of construction demand, remains strong. Of the 50.1 million square feet of developments under construction, 59% of it is pre-leased.
Colliers has the technology industry accounting for 46.9% of the 29.5 million in pre-leased inventory.
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