CBRE Research’s Global Prime Office Occupancy Costs put London’s West End as the world’s priciest office space at $272/SF, with Hong Kong and Beijing districts--two each--rounding out the top five.
Worldwide prime occupancy costs rose 2.4% year-over-year, but the Americas saw a 3.1% increase thanks to demand from the US employment surge.
Midtown NYC kept its 10th spot worldwide with an occupancy cost of $127/SF, while key non-gateway cities and suburbs shot up the ranks, boosted by the US recovery, the World Property Journal reports.
Downtown Seattle costs jumped 17.3%, the biggest increase worldwide. Costs also rose in DC, S.F, and suburban and downtown Atlanta. [WPJ]
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