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Speculative development is much less prevalent today than in past boom times–with many of Dallas/Fort Worth's large office and industrial projects significantly leased up prior to construction.
With more than 1 million square feet of leasing demand projected across the Trophy and Class A market over the next 12 months, quality large block options will begin to decline, JLL predicts.
With Fremont submarket vacancy rates hovering around 2%, Pastakia + Associates has been looking for sites that will add class-A space as close to the existing office users as possible, and the site is perfect for that need.
“More than half of our activity comes from outpatient care today, and we're committed to investing in the very best facilities which can offer our patients more options to get the best possible care close to their homes,” says Ralph W. Muller, CEO of the University of Pennsylvania Health System.
The current expansion period is the second-longest post-war boom period on record and may become the longest, which would indicate that the cycle may be close to a peak.