Major Market Office Starts Booming

According to Randyl Drummer in his article Office Starts Surge on Strength, Stability of US Office Market at Midyear (retrieved from www.costar.com), office developers in the US have added nearly 38 million square feet of leasable space in the first half of 2017, a 10% increase over 2016. The influx of office space will continue to drive increased vacancy rates in major markets, but what does this mean for tertiary markets? With lower vacancy rates in tertiary markets, tenants may struggle to find suitable office space, which will driver build to suit and speculative development, albeit not to the scale of major markets.

Contact Barrett Properties to discuss how macro trends will affect Northwest Georgia and Southcentral Tennessee.

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