Dec
07
Posted on November 21, 2018
The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2018.
Key Takeaways
- 2018 is expected to register nearly 13.0 million square feet of net absorption per quarter, significantly outpacing 2017 and 2016 when the quarterly figures averaged 9.5 million and 10.4 million square feet, respectively.
- The current macroeconomic expansion will most likely continue beyond next summer, which will officially make it the longest sustained economic growth period in U.S. history.
- However, the biggest limitation to the expansion of firms that use office space is likely to be the ability to hire qualified employees.
Regarding office space demand, the ultimate determinant of long-term growth will be how the business sector reacts to rising wages and interest rates.
View the forecast.
Share this post: