US Office: Demand Keeps Outpacing Supply
CALABASAS, CA—Among office markets driven by the tech sector, San Jose has been a winner in both vacancy declines and rent growth; Marcus & Millichap reports that Silicon Valley’s peers have seen more variable results.
The US office sector at midyear is poised for continued growth, Marcus & Millichap says in a new report. Thanks to ongoing expansion in a number of office-using employment sectors as well as a slower pace of new deliveries, the national vacancy rate is expected to keep ticking downward while rent growth is expected to average 3.9% for the year—and considerably more in tech hubs.
The report notes that office-using employment recovered early following the downturn and is now up by 1.8 million workers over the pre-recession peak. While professional and business services remains the largest office-using employment sector, Marcus & Millichap sees an incremental lift in demand coming from other industries.Go Back
Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.