Report | United States Office Investment Outlook - Q3 2016
Nationally, the overall pricing landscape for office product remains steady, with cap rates across primary and secondary markets averaging 4.4 percent. This is stable compared to the last two quarters, while showing a 30-basis-point compression compared to this time last year.
Though 65.6 percent of markets are seeing cap rates compress, signs of a plateau are beginning to emerge, with 22.0 percent of markets seeing a year-to-date softening of cap rates.
Pricing will be a key factor to watch heading into 2017, and those submarkets with higher barriers to entry or deeper liquidity will be more resilient in sustaining current pricing levels.
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