Report: Suburban Construction Will Dominate the Office Market in 2018
Steve Brown shares news of the most recent list of metropolitan areas expected to build the most suburban offices in 2018.
The list by Yardi Systems Inc puts the San Francisco Bay Area at the top of the list, followed by Dallas-Fort Worth and then Austin. In fact, California and Texas account for the first four areas on the list. Suburban Maryland near Washington, D.C. is fifth on the list.
Brown also quotes the Yardi report directly, which says that suburban offices will account for the most space in the total office market in 2018. "On a national level, 347 buildings totaling close to 75 million square feet of new office space are on track for delivery next year, 47 percent of the total pipeline being located in suburban areas," according to the report.