Cleveland office insight - Q2 2018
Despite the recent run-up downtown, the suburbs remain the principal corporate address, home to 81.0 percent of the region’s headquarters. One of the most prevailing trends of this cycle has been the flight to quality, as businesses invest in the workplace as a means to attract and retain top talent.
As evidence, six corporate headquarters have been constructed in the suburbs since 2012 totaling 1.6 million square feet. Speculative developers have also been accommodating the flight to quality trend, delivering 300,000 square feet of new multi-tenanted office space over the last year.