There has been a surge of demand in tech hubs like Seattle, Boston, and San Francisco, says a report from software and consulting firm VTS.
The company claims to see "99% of all newly created tenant requirements within the markets it serves." It publishes an index of market actions based on total square footage with 2018 to 2019 as the 100-value baseline. Numbers are smoothed using a three-month trailing average and it suppresses monthly data that is verified by fewer than four customer contacts.
The national index was down by 8.1% from the previous quarter, a change from 62 to 57, a decline that is "in line with normal seasonal trends." VTS says that because of inherent volatility, any change of less than 10 percentage points to be modest. The quarter was up 11.8% compared to the same period during the previous year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
