LoginMarket Research
Office Market Research/Reports
-
Washington
-
Seattle Office Market Report
First Quarter 2013
The first quarter included a quiet encore of the performance seen near the end of 2012. Leasing activity was modest, but positive, tenants showed renewed interest in the middle of the Seattle CBD, Amazon leased any large space that came available in the CBD, and investors continued to be bullish on the Seattle office market. The region's quarterly net absorption was 338,665 s.f.; even with an 111,674 s.f. net loss in the Eastside. The South King County market had a burst of leases commence, resulting in the largest quarterly net absorption in over ten years. In the Seattle CBD, Karr Tuttle Campbell moved into space in Columbia Center, continuing the resurgence in leasing in the legacy Class A buildings of Seattle's Financial District. Amazon signed a lease for 150,000 s.f. in 1800 Ninth and is widely rumored to be taking all 136,000 s.f. at Metropolitan North; both would count toward second quarter absorption.
Back to top
-
Oregon
-
Portland Office Market Report
First Quarter 2013
The economic mixed bag we are currently facing includes positive considerations like the strength of balance sheets for businesses and consumers, as well as challenges such as flare-ups in the ongoing European recession and sovereign debt crisis, weak housing-related industries, and cuts at all levels of government. However, with low financing costs and high corporate profits, cautious optimism remains the outlook once a few near-term obstacles are tackled. For 2013, economic growth should continue to improve at a somewhat quicker pace than that which we experienced over the past three years.
Back to top
-
California
-
Peninsula/San Mateo County Office Market Report
First Quarter 2013
The San Francisco Peninsula office market began 2013 with an uptick, posting first quarter positive absorption of 146,626 square feet. While demand has slackened in comparison with the pace experienced in 2011, interest in Peninsula office space is still strong, particularly on the southern end, encouraged by high rental rates deeper in Silicon Valley. In the near term, a number of factors may act as market dampeners: federal budget sequestration, recession in Europe and a China slowdown, as well as the drop in venture capital funding. However low interest rates, high U.S. corporate profits, and the strong technology based local economy favor improving Peninsula office space demand.
-
San Francisco Office Market Report
First Quarter 2013
The San Francisco office market is still the hottest in the country and one of the hottest around the world. The thriving technology sector continues to power the local real estate economy. The economies of agglomeration that have driven technology growth in Silicon Valley over the past 30 years have expanded into San Francisco. Established tech giants and new startups are looking to base their operations in, or expand into, San Francisco. At the same time, San Francisco remains a draw for companies from across the spectrum of other industries.
-
Silicon Valley Office Market Report
First Quarter 2013
The Silicon Valley office real estate market saw a decrease in activity during the first quarter of 2013 after a very strong year in 2012. While, in most markets, 633,486 square feet of negative net absorption would indicate signs of a bad quarter, in Silicon Valley it gives tenants in the market more options when looking for office space. This is especially true in the submarkets with low vacancy. Kidder Mathews is tracking millions of square feet of office tenants in the market who will benefit from an increased inventory. With rental rates increasing by $0.05 per square foot this quarter, those tenants
will also likely pay higher rent, which now averages $2.44 per square foot throughout
the Silicon Valley.
Back to top
Washington
-
Seattle Office Market Report
First Quarter 2013The first quarter included a quiet encore of the performance seen near the end of 2012. Leasing activity was modest, but positive, tenants showed renewed interest in the middle of the Seattle CBD, Amazon leased any large space that came available in the CBD, and investors continued to be bullish on the Seattle office market. The region's quarterly net absorption was 338,665 s.f.; even with an 111,674 s.f. net loss in the Eastside. The South King County market had a burst of leases commence, resulting in the largest quarterly net absorption in over ten years. In the Seattle CBD, Karr Tuttle Campbell moved into space in Columbia Center, continuing the resurgence in leasing in the legacy Class A buildings of Seattle's Financial District. Amazon signed a lease for 150,000 s.f. in 1800 Ninth and is widely rumored to be taking all 136,000 s.f. at Metropolitan North; both would count toward second quarter absorption.
Oregon
-
Portland Office Market Report
First Quarter 2013The economic mixed bag we are currently facing includes positive considerations like the strength of balance sheets for businesses and consumers, as well as challenges such as flare-ups in the ongoing European recession and sovereign debt crisis, weak housing-related industries, and cuts at all levels of government. However, with low financing costs and high corporate profits, cautious optimism remains the outlook once a few near-term obstacles are tackled. For 2013, economic growth should continue to improve at a somewhat quicker pace than that which we experienced over the past three years.
California
-
Peninsula/San Mateo County Office Market Report
First Quarter 2013The San Francisco Peninsula office market began 2013 with an uptick, posting first quarter positive absorption of 146,626 square feet. While demand has slackened in comparison with the pace experienced in 2011, interest in Peninsula office space is still strong, particularly on the southern end, encouraged by high rental rates deeper in Silicon Valley. In the near term, a number of factors may act as market dampeners: federal budget sequestration, recession in Europe and a China slowdown, as well as the drop in venture capital funding. However low interest rates, high U.S. corporate profits, and the strong technology based local economy favor improving Peninsula office space demand.
-
San Francisco Office Market Report
First Quarter 2013The San Francisco office market is still the hottest in the country and one of the hottest around the world. The thriving technology sector continues to power the local real estate economy. The economies of agglomeration that have driven technology growth in Silicon Valley over the past 30 years have expanded into San Francisco. Established tech giants and new startups are looking to base their operations in, or expand into, San Francisco. At the same time, San Francisco remains a draw for companies from across the spectrum of other industries.
-
Silicon Valley Office Market Report
First Quarter 2013The Silicon Valley office real estate market saw a decrease in activity during the first quarter of 2013 after a very strong year in 2012. While, in most markets, 633,486 square feet of negative net absorption would indicate signs of a bad quarter, in Silicon Valley it gives tenants in the market more options when looking for office space. This is especially true in the submarkets with low vacancy. Kidder Mathews is tracking millions of square feet of office tenants in the market who will benefit from an increased inventory. With rental rates increasing by $0.05 per square foot this quarter, those tenants will also likely pay higher rent, which now averages $2.44 per square foot throughout the Silicon Valley.