High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Office  | 
Although many global companies have cut back on office space, they expect to add it back over the next five years

Brisk Job Growth Spurs U.S. Office Market Demand, Yardi Matrix Reports

A new report from Yardi Matrix shows that the U.S. office market is continuing its strong performance into 2019. Asking rents rose by 0.5% in the three months ending in January.

The report illustrates that job growth in office-using industries, which measured 2% year-over-year in January, is driving demand for space. Yardi Matrix writes inventory growth is strongest in coastal markets such as New York City and San Francisco, and in rapidly growing metros like Austin, TX; Nashville; and Charlotte, NC. Office space under construction in February totaled more than 169 million square feet, 2.9% of existing inventory.

While the development pipeline remains healthy and projects in the planning phase represent a 6.7% addition to inventory, Yardi Matrix notes “office deliveries have been slowed by construction delays as a result of labor shortages.” Thanks to continuing demand and ample capital, however, “many of the [commercial real estate] projects in planning phases will move forward even if they are not delivered for a few years,” says Yardi Matrix.

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: Yardi Matrix
Connect

Inside The Story

Download Yardi Matrix Report

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Economy
  • ◦Lease
New call-to-action
New call-to-action
New call-to-action