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​​​​​​​​​​​​​​​As secondary market investment increases, outperformers emerge across CBDs and suburbs.

After a modest setback at mid-year, secondary market momentum has returned as investors look to diversify. 2016 was the most active relative year for secondary markets so far this cycle. Atlanta, Dallas and Philadelphia are leading this activity, each seeing office volumes exceed $2.0 billion annually for the second consecutive year. 

While market and submarket selectivity remains the norm, a heightened focus on near- and mid-term economic, demographic and fundamental strength will be critical determinants in secondary market capital flows in 2017.​ To learn more, download our latest Office Investment Outlook.

Investment sale volumes by market type​

Second half momentum pushes secondary markets to cyclical highs on a quarterly and annual basis compared to primary markets, accounting for nearly 50.0 percent of fourth quarter transactions​. ​Investment sales volumes by market type | q4 2016
Source: JLL Research (assets larger than 50,000 s.f.)

Who is leading secondary market volumes?​

Atlanta, Dallas-Fort Worth and Philadelphia are each consistently seeing office volumes exceed $2.0 billion annually. Learn more about these markets in our Office Investment Outlook.

Source: JLL Research (assets larger than 50,000 s.f.)
Source: JLL Research (assets larger than 50,000 s.f.)

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