With more than $20.0 billion of foreign acquisitions in 2016, the office sector continues to be a primary beneficiary of offshore capital. While Canadian groups have historically been the most active, German and Asian capital dominated 2016 foreign investment. While most of this investment remains focused on primary markets like New York, Chicago and Los Angeles, multi-tenanted, core assets in select secondary markets are seeing modest gains.
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Office continues to outperform peer sectors and at a sustained, structural pace relative to prior cycle: 16.0 percent of full-year 2016 acquisitions by offshore investors.
Source: JLL Research, Real Capital Analytics (transactions larger than $5.0M)
The foreign acquirer landscape took a shift in full-year 2016, with German capital surpassing Canadian as the most active, and Asian investors accounting for four of the 10 most active.
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U.S. office markets poised for incremental growth in 2017 as expansion slows
2851 Junction presents the opportunity to acquire the 100% fee simple interest in a four-story, 155,613-square-foot, Class A oﬃce building located in San Jose, California.
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President, Americas Capital Markets
Senior Director, Americas Research