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Supply and demand are in lockstep, keeping rent growth at bay, but that will not last.
Supply-constrained Midwest and Northeast markets showed the strongest rent growth.
Washington, D.C., is the most exposed city to government leases with just over $6 billion.
Total annual sales volume for the multitenant market was $166.9 billion.
Despite that, healthy consumer trends, e-commerce and freight volumes signal stability.
The tech industry has 29 of the largest leases, totaling 9.3 million square feet.
Luxury retailers now have to rely more on their traditional base.
Both owning and renting remain difficult for the average American.
Leasing activity accelerated following the November election.
Leasing activity for lab space grew 28% year-over-year to 3.4 million square feet.