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Chart Of The Week: New Offices Boosting Absorption In Suburban Markets
According to JLL Research, many major suburban markets are experiencing a huge Class-A absorption boost as 44.2M SF of new offices came on line in 2015.
Fueled by 14.8M SF of completions, these 12 submarkets in particular absorbed 9.2M SF of Class-A office space, nearly one-third of the national suburban total.
The boost is also driven by the move-ins of large tech, energy and professional service corporations consolidating into new, regional campuses, including State Farm (Dallas and Phoenix), Ericsson (Silicon Valley), ConocoPhillips and Air Liquide (Houston), and Saint-Gobain (Philadelphia).
As an additional 46M SF comes on line in the upcoming months, JLL expects this trend to continue.
