Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
The job rate has grown at an annual rate of 2.2%, most of the office buildings that were damaged by Hurricane Harvey have been rehabbed and developers remain disciplined with lead tenants in place.
Tech companies have accounted for the majority of the leasing activity this year, but office investors still have some concerns about supply-demand imbalance.
The portfolio Sweden-based Hemfosa will acquire includes office, warehouse and logistic assets and totals approximately 460,000 square meters or nearly 5 million square feet.
Meanwhile, the vacancy rate in the District rose to 14% in Q2 -- an increase of 170 basis points (bps) year over year and the city's highest vacancy rate since 2014.
The Miami office market in the second quarter continues to show signs of leveling off, JLL reports. The market year-to-date has registered 153,698 square feet of negative office space absorption and a total vacancy rate of 14.2%.