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Leasing activity in the suburban office market

​Over the last 18 months the suburban office market has been fairly strong, with leasing activity surpassing 200,000 square feet in four out of the last six quarters. However, leases signed so far this year have been smaller, on average, than this time last year. The first two quarters of 2016 saw 56 leases signed for a total over 460,000 square feet while the first half of 2017 saw 52 leases for just over 300,000 square feet. What’s interesting is how parks like Bishops Woods and Brookfield Lakes have had the most leases signed in this time frame yet places like the Milwaukee County Research Park, Crossroads, and Executive Drive that have landed the largest deals. This can most likely be attributed to the fact that larger tenants are looking to have great accessibility and signage visibility – best achieved close to the highway. Not surprisingly, Financial Services and Technology sectors dominated leasing activity in the suburbs. 

Source: JLL Research

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