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United States

Report | U.S. Office Investment Outlook - H1 2017

Summary

​Sustained office tenant demand and rising rents remain the norm, but supply pressures are rising

  • Since the second quarter of 2010, office markets posted 29 consecutive quarters of positive absorption.

  • Although construction starts have slowed, new deliveries expected by year-end total roughly 65.9 million square feet, 41.3 percent higher than the 2016 total.

  • Office construction volumes remain flat at 108.8 million square feet with minimal further growth expected this cycle.

  • Volumes made a resurgence this quarter, falling just 3.6 percent year-over-year and reaching $31.5 billion.

  • Of single asset transactions in the first six months of the year, roughly 24.0 percent were joint ventures.

  • Pricing levels remain stable, with market averages for institutional product ranging between 3.6 and 4.9 percent

across the primary markets and 4.1 and 7.8 percent across the secondary markets.​

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