16/05/2018 17:52:30

STABLE VACANCY UNDERSCORES TENACIOUS OFFICE MARKET

HOUSTON, May 16, 2018 (GLOBE NEWSWIRE) -- In its latest national report, Transwestern revealed that the U.S. office market showed continued growth over the first three months of 2018 as vacancy remained stable for the sixth consecutive quarter. Direct and overall (sublet) vacancy ended the quarter at 9.7 and 10.3 percent, respectively.

Overall, 22 of the 48 Transwestern reporting markets registered improvements in office direct vacancy while 30 of the markets recorded increases in overall vacancy (direct and sublet) over the period.

“Although well below both three- and five-year running quarterly averages, net absorption in the office sector for the first quarter of 2018 slightly outpaced the five-year average first-quarter performance of 14 million square feet,” said Stuart Showers, Director of Research for Transwestern’s Houston office. “As a result, average asking rental rates continued to climb at a modest pace.

For office space, the first-quarter national average asking rental rate of $25.66 per square foot marked the 20th consecutive quarterly increase.

Continued restraint in the development of new office product helped the sector. After cresting at 147.6 million square feet a year ago, the construction pipeline has begun to recede with early 2018 marking the fourth straight quarter of declines. New York, Dallas-Fort Worth, Washington, D.C., and Seattle led the 141.1 million square feet of new construction starts in first quarter 2018

“When examining vacancy and rent growth by market, we see a number of metros still in a stage of recovery or market correction for a variety of reasons,” Showers said. “But these are more than offset by metros we consider stabilized or peak performers.

Download the national office market report at: http://twurls.com/1q18-us-office 

ABOUT TRANSWESTERN

Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.

Attachment

Stefanie Lewis

Transwestern

713.272.1266

stefanie.lewis@transwestern.com

In its latest national report, Transwestern revealed that the U.S. office market showed continued growth over the first three months of 2018. A number of metros are still in a stage of recovery or market correction for a variety of reasons, but these are more than offset by metros considered stabilized or peak performers. Download the national office market report at: http://twurls.com/1q18-us-office

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
16 May
 
Hej,   Jeg har været herinde i dette forum siden 2010, og har fulgt mange debatører, men en af dem s..
28
17 May
PNDORA
Jeg personligt mener at en stor del af skribenterne her på forum og markedet som helhed overreagerer..
17
16 May
PNDORA
Pandora dykkede fordi der manglede 60 millioner i omsætning ud af 1.500 millioner. Det er jo helt gr..
16
19 May
PNDORA
Pandora realiserede i Q1 2018 en omsætning, som var 44 mDKK lavere end 1Q 2017, såfremt valutakurser..
14
17 May
NOVO-B
Trump fik fortalt at PBM'ernes rabatsystem er taget for fremskaffelse af lavere priser til patienter..
14
18 May
DANSKE
Kongsmart, Jensen og Pedersen var de 3 sidste kandidater til en højt betroet post i banken. De mangl..
13
15 May
VELO
Har lyttet til det nu. Ikke så meget nyt, men bider mærke i, at Envarsus bliver mere og mere en fast..
13
14 May
VELO
Nu begynder Veloxis at levere varen. Det er klart, at med en vækst 142% i omsætning i forhold til Q1..
13
14 May
NOVO-B
Nu vil jeg ikke bruge meget tid på dit "Sikken dog noget sludder"  udover, at det er klart, at du ik..
13
19 May
PNDORA
Når nu det kan være så svært, at tolke shortere, og andre på markedet, så kan det være en god ide, a..
12

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Lambert Catches Record-Breaking Limit to Take Lead after Day Three of FLW Tour at Kentucky Lake Presented by Costa Sunglasses
2
ALGT LOSS ALERT: Rosen Law Firm Reminds Allegiant Travel Company Investors of Important Deadline in Class Action– ALGT
3
TheRecover.com, Drug Detoxification For San Jose Residents
4
PRF: Consolidated Unaudited Interim Report of AS PRFoods for 1st quarter of 2018 and 15 months of 2017/2018
5
TheRecover.com, Columbus Drug Rehabs Can Help

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
21 May 2018 02:03:52
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180515.2 - EUROWEB5 - 2018-05-21 03:03:52 - 2018-05-21 02:03:52 - 1000 - Website: OKAY