Office Space: City vs. Suburbs

1940 Views 2 Replies 2 Participants Last post by jboy560, Jun 13, 2008

jboy560

Discussion Starter · Jun 13, 2008

This isn't an actual versus thread. I remember reading that New York and Chicago are the only metropolitan areas with more than 50% of the office space, I believe, in the central city. Now, my question is, is that still true, and if so, is the proportion of office space in Chicago increasing, decreasing, or unchanged. I did a few google searches, but I couldn't find anything to answer my question. If any of you know, that would be awesome. Thanks

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paytonc

· #2 · Jun 13, 2008

jboy560 said:
I did a few google searches, but I couldn't find anything to answer my question. If any of you know, that would be awesome. Thanks

When I worked in commercial real estate, we used CB Richard Ellis market surveys as our baseline. You can get them free after registering at their slightly confusing website: http://www.cbre.com/USA/Research/Market+Reports/

As far as I can tell, downtown Chicago's market share is increasing relative to the suburbs; the same is the case in DC and probably NYC. The "jobless recovery" resulted in new towers downtown while vacancy rates remained stubbornly high in the suburbs.

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jboy560

Discussion Starter · #3 · Jun 13, 2008

Awesome...that's what i wanted to hear. Thank you paytonc for the link!

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