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Savills Prime Office Cost Index Q4 2017
06 February 2018

At the close of 2017, a majority of SPOC markets outside of the US and Mexico increased in overall costs (year-over-year as measured in USD) as global real estate markets strengthened and the dollar depreciated against 2016 highs.

 

Research search results: 245 found

 
Seattle 2018 ERI Report

Seattle 2018 ERI Report

25 April 2018

Tech firms engaged in a bidding war for talent and quality space during 2017. Landlords were able to pull back on free rent and improvement allowances. Leasing volume in Seattle reached its highest intensity since 1999 and 2000, as top tech firms started warehousing space, and a few committed to entire properties. With limited quality space options, some owners may trim concessions in 2018. Free rent periods could fall slightly and tenants can also anticipate less flexibility on lease options

 
 
 
Sunnyvale/Santa Clara 2018 ERI Report

Sunnyvale/Santa Clara 2018 ERI Report

25 April 2018

Tenants continue to face extremely challenging conditions in Sunnyvale and Cupertino. Much of the rental rate growth occurred in 2016, but frenetic demand from both top tech firms and rapidly expanding startups has kept competition for space very heated. Landlords pulled back slightly on free rent and extended generous tenant improvements only for larger, creditworthy firms. Companies will face added rent hikes in 2018.

 
 
 
Tampa Bay 2018 ERI Report

Tampa Bay 2018 ERI Report

25 April 2018

Leasing volume remained steady in 2017. Combined Class A deal volume in the Tampa CBD and Westshore exceeded 1.0 msf for the second consecutive year. Landlords have been able to push rent steadily higher. Construction of Class A buildings is poised to hit record levels in 2020. For the time being, though, new development is still very limited. Tenants seeking larger high-quality blocks will have few options in the short term, enabling landlords to push rents higher.

 
 
 
Washington, DC 2018 ERI Report

Washington, DC 2018 ERI Report

25 April 2018

Conditions diverged widely by building quality during 2017. Demand in the very highest-caliber newer buildings was once again very strong. Older properties with outdated space layouts and amenities struggled. Concessions rose along with face rents, as landlords used increasingly generous incentives to lure tenants to their properties. In turn, despite a slight jump in taking rent, effective rent dipped slightly. Tenants should remain in the driver’s seat during 2018.

 
 
 
Non-Residential Real Estate Activity: "Improved"

Non-Residential Real Estate Activity: "Improved"

19 April 2018

April’s Beige Book report, the Federal Reserve’s qualitative assessment of conditions across the country’s 12 Districts, suggested that economic growth over the last month was split between “modest and moderate” as shown in Table 1. Headlining the list of concerns was the potential impact from the newly imposed (and proposed) tariffs, with contacts in the manufacturing and transportation industries expressing the most worry. (China has since filed a formal compla

 
 
 
Office Employment Pulls Back; Wages Show Few Signs of Further Acceleration

Office Employment Pulls Back; Wages Show Few Signs of Further Acceleration

10 April 2018

March’s labor market report was slightly softer than expected and was accompanied by downward revisions (-50k) to total non-farm payroll growth over the first two months of the quarter. Despite lingering concerns over prospects of wage inflation given the tightness of the labor market, a rapid advance in average hourly earnings has failed to materialize.

 
 
 
Congressional Oversight Lifts After-tax Cost of Leasehold Improvements

Congressional Oversight Lifts After-tax Cost of Leasehold Improvements

14 March 2018

Due to an oversight in the new tax bill, the depreciable life for leasehold improvements—improvements to the interior of nonresidential real property, such as office build-outs—has reverted to 39 years from 15 years. As a result, the depreciation expense one is able to take for tax purposes is significantly reduced on a per annum basis, as costs are expensed over a longer time period.

 
 
 
Baltimore 2017 Q4 Market Report

Baltimore 2017 Q4 Market Report

16 February 2018

Baltimore's office market continues to offer tenants a wide range of office product, ranging from premier newer buildings to more reasonably priced suburban office space. Availability tightened in a handful of areas as tenants targeted high-quality newer office product. Several significant redevelopment projects such as Port Covington and Columbia Town Center will open up more opportunities in the coming quarters. 

 
 
 
South Florida Q4 2017 Office Market Report

South Florida Q4 2017 Office Market Report

16 February 2018

Following trends seen across many U.S. markets, South Florida's office market posted steady leasing over the last four quarters. Consistent demand, coupled with constrained construction activity, creates challenges for larger tenants seeking qualiy space.   

 
 
 
Los Angeles Q4 2017 Market Report

Los Angeles Q4 2017 Market Report

09 February 2018

A market reduction in the number of larger leases, particularly by tech and entertainment companies, kept leasing activity under its long-term average during the second half of the year. As demand slows across more of the market, tenants are finding a few more space options even in West Los Angeles.

 
 
 

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