Report | Richmond Office Insight - Q4 2015
Expansion was the name of the game for Richmond-area tenants in 2015, with two-thirds of all deals being signed by expanding tenants—and we’re not just talking for small peanuts, either. Footprints increased by a whopping 44.6 percent on average for those firms in the mood to expand.
Suburban Class A markets continue to be tight, with expansion within existing space going forward unlikely given the 8.8 percent vacancy rate we saw in 2015. Instead, firms are likely to look towards new construction for their additional spacing needs.
Learn more about what’s happening—and what we expect to occur in the coming months—across the Richmond office market in our Q4 US Office Insight.
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