CBRE Q4 2013 U.S. Office MarketView

Ed Schreyer, President, Agency Brokerage and Asset Services for the Americas, discusses the U.S. Office market’s performance during Q4 2013.

• The U.S. office vacancy rate edged down 20 basis points (bps) during the final quarter of 2013 to 14.9%, its lowest level since 2009.
• Office-using employment recovered to its pre-recession peak during Q4 2013, with 132,700 jobs added over the quarter.
• Office development continued to rise, with 9.2 million sq. ft. of new office space delivered during Q4 2013. On an annual basis, 18.6 million sq. ft. of new supply came on line during 2013, nearly double 2012’s tally of 9.9 million sq. ft.
• Buyers and sellers have adjusted to a modestly higher interest rate environment, with investment sales activity accelerating during the second half of 2013. Annual transaction volume totaled $101.5 billion, up 27% from the $80.1 billion of activity recorded in 2012.

Download the full U.S. Office MarketView Q4 2013

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