“The U.S. office market continued its steady momentum in the second quarter, recording 39.4 million square feet of net absorption in the first six months of 2016, nearly equaling the 40.2 million square feet absorbed during the record-setting first half of last year.”
“In a theme seen in many markets across the country, the supply of available space in newer, higher-quality office buildings is becoming increasingly limited. With relatively little new development in the pipeline based on historical levels, only about 81 million square feet of space is available today in buildings constructed over the last 10 years.”
“Demand growth is nearly twice as strong for medical office as for regular office, and over the long term, medical office has grown at about 1.3% annual rate compared to 0.7% for the broader office market, Page said.”
Citation & Link to article: Drummer, Randyl. “U.S. Office Sector Enjoys Steady Q2 Leasing Momentum Even as Rent Growth Slows, Sales Stall.” National Commercial Real Estate News. N.p., 27 July 2016. Web. 01 Aug. 2016. http://www.costar.com/News/Article/US-Office-Sector-Enjoys-Steady-Q2-Leasing-Momentum-Even-as-Rent-Growth-Slows-Sales-Stall/183648
Citation & Link to picture: “Z8 Office Tower Redefines The Classical High-Rise Tower Into A Contemporary Architectural Language – EVolo | Architecture Magazine.”EVolo Architecture Magazine RSS. N.p., n.d. Web. 01 Aug. 2016. <http://www.evolo.us/architecture/z8-office-tower-redefines-the-classical-high-rise-tower-into-a-contemporary-architectural-language/>.