CBRE today released a report on national trends in the office market.
Overall, the national office market, especially the larger metropolitan areas, moved closer to full recovery in the third quarter of 2015.
Tech companies continued to drive growth across the nation, resulting in a scarcity of creative space in many cities. On the inverse, energy-dominated markets slowed further due to sustained low oil prices.
Many companies continued to seek space in vibrant downtown areas near public transportation in order to attract millennial talent desiring a live/work/play environment. Landlords are increasing rents and offering fewer concessions as the pendulum continues to shift in their favor in more markets. Most signs point to a healthy and positive conclusion to 2015 for the office market. Click here to download this report (Americas Office Trends Report_Q4 2015.pdf).
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