Posted Oct 20, 2021, 5:59 PM
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Registered User
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Join Date: Jan 2014
Posts: 3,021
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Quote:
Originally Posted by dc_denizen
regarding office construction, in the US:
LA expects 7M sf of new office space delivered in 2021
Boston — 6.6 million square feet and San Francisco — 5.7 million square feet — were the second- and third-most active markets for new office space.
https://therealdeal.com/la/2021/04/0...ats-a-problem/ |
But vacancy rates are soaring in these cities and Toronto is stable.
https://www.forbes.com/sites/danpont...h=1a2a85711344
Quote:
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In the US, epicentres of high-tech are feeling the real estate pinch. The Greater Boston region has witnessed sublease space nearly double since the onset of the pandemic. More than 3.5 million square feet of prime office space has been put back on the market. Like Manila and Ho Chi Minh, the regional vacancy rate has also risen, from 12.3 percent to 15 percent across Boston. San Francisco—the hub of high-tech—is no better. That city's office vacancy rate reached 16.7 percent by the end of 2020, with no signs of it letting up in 2021.
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