{"id":1004210485,"date":"2018-03-16T05:17:50","date_gmt":"2018-03-16T13:17:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004210485"},"modified":"2022-12-08T21:25:19","modified_gmt":"2022-12-09T05:25:19","slug":"economy-watch-most-office-space-under-construction-already-preleased","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-most-office-space-under-construction-already-preleased\/","title":{"rendered":"Economy Watch: Most Office Space Under Construction Already Preleased"},"content":{"rendered":"<p>By D.C. Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004210486\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.cbre.us\/research-and-reports\/US-MarketFlash-High-Preleasing-Underscore-Demand-New-Office-Space\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004210486\" data-attachment-id=\"1004210486\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-most-office-space-under-construction-already-preleased\/cbre-office-marketflash-2018\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/CBRE-office-marketflash-2018.jpg\" data-orig-size=\"467,403\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"CBRE office marketflash 2018\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Source: CBRE U.S. MarketFlash, February 2018&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/CBRE-office-marketflash-2018.jpg?w=467\" class=\"wp-image-1004210486\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/CBRE-office-marketflash-2018.jpg\" alt=\"Source: CBRE U.S. MarketFlash, February 2018\" width=\"400\" height=\"345\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/CBRE-office-marketflash-2018.jpg 467w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/CBRE-office-marketflash-2018.jpg?resize=300,259 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004210486\" class=\"wp-caption-text\">Source: CBRE U.S. MarketFlash, February 2018<\/p><\/div>\n<p>Nearly 60 percent of new <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-cash-only-office-deals-of-2017\/\">U.S. office construction<\/a> due for delivery in 2018 and 2019 is already pre-leased, emphasizing the strong demand for new, efficient buildings, according to a new MarketFlash report by CBRE. In fact, the report said, more than half of new office construction is preleased in all but one of the top 10 markets for construction activity.<\/p>\n<p>So intense is the demand for office space in some places that several markets may face near-term shortages of available new space. For instance, more than 80 percent of space slated for delivery in Boston, Philadelphia and San Francisco this year is already preleased.<\/p>\n<p>Of the space slated to come on line in 2018, about 57 percent of the total\u2014about 43 million square feet\u2014is preleased. Of the 22 million or so square feet of office space coming on line in 2019, 58 percent is leased, according to CBRE.<\/p>\n<p>The data covers buildings underway in the 20 largest U.S. metro markets.\u00a0More than 11 million square feet are projected to be completed in Manhattan between 2018 and 2022, with some 56 percent already taken. In San Francisco, 61 percent of the more than 10 million square to be delivered by 2022 is taken. At the other end of the spectrum, only 41 percent of the more than 4 million square feet to be delivered during that period in Dallas-Fort Worth is preleased.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than half of new construction is preleased in all but one of the top-10 markets for construction activity, according to CBRE&#8217;s latest MarketFlash report.<\/p>\n","protected":false},"author":1023,"featured_media":1004210486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[32789],"class_list":["post-1004210485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","tag-cbre"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economy Watch: Most Office Space Under Construction Already Preleased - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-most-office-space-under-construction-already-preleased\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Most Office Space Under Construction Already Preleased\" \/>\n<meta property=\"og:description\" content=\"More than half of new construction is preleased in all but one of the top-10 markets for construction activity, according to CBRE&#039;s latest MarketFlash report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-most-office-space-under-construction-already-preleased\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-16T13:17:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:25:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/CBRE-office-marketflash-2018.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"467\" \/>\n\t<meta property=\"og:image:height\" content=\"403\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-most-office-space-under-construction-already-preleased\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-most-office-space-under-construction-already-preleased\/\",\"name\":\"Economy Watch: Most Office Space Under Construction Already Preleased - 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