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Skyline Review

United States

Report | North America Skyline Review - Winter 2011


The skyline trophy CBD building sector is fueling North American office real estate growth for 2011. Absorption will grow even faster as record corporate profits finally translate to occupancy increases. 
  • Highest absorption: Charlotte, New York, Toronto
  • Lowest absorption:  Los Angeles, San Francisco, Century City
  • Highest vacancy rate:  Atlanta, Stamford, Seattle
  • Lowest vacancy rate:  New York; Washington, DC; Bellevue
Rents have bottomed out across most skyline segments.  Tenant improvement allowances are scaling back, free rent has been slashed and face rates have inched up.  Investors are returning to the market, and the majority of their allocations are for skyline buildings.  This is expected to widen to other geographies during 2011 and 2012.
  • Highest asking rents:  Washington, DC; New York; Toronto
  • Lowest asking rents:  Baltimore, Atlanta, Charlotte
  • Highest 12-month increase:  San Francisco; Seattle; Washington, DC
  • Greatest 12-month decrease:  Stamford, Charlotte, San Diego

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