Leasing

With a majority of the new retailers scheduled for a 2018 opening, timing appears to be optimal for the new employees of Dropbox and Airbnb, both of which signed two of the largest office lease deals in 2017.

A recent reconfiguration of space helped to seal the deal for Cozen, with space designed to incorporate concepts law firms are seeking, yet efficient relative to the key metric of attorney-to-square-foot ratio.

“After about a two-year slowdown, rent growth is starting to pick back up across the nation,” says Aaron Terrazas at Zillow.

In addition to more green certifications, progress will be made in water-use reduction and reducing the carbon footprint through waste management, recycling and improved energy performance, Granite's Jason Purvis tells GlobeSt.com.

The MCCIII complex, which includes four interconnected buildings on 27-acres, is 62-percent leased to four occupants, including global credit tenants TEVA Pharmaceuticals and Ogilvy CommonHealth Worldwide.

Yet pricing movement has ranged from minus 1% to positive 8% year over year, depending on which index is consulted, say analysts with Keefe, Bruyette & Woods.

The overall vacancy rate for class A properties in suburban Clayton has sunk to just 4.8%, a drop of 300 bps in a little over a year.

Spaces Levi's Plaza, which opened earlier this week, offers professionals a 32,000-square-foot business hub built around the concept of shared ideas, entrepreneurialism and innovation.