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A B S O R P T I O N
The suburban office leasing market has experienced 3.6% positive net absorption of current inventory, compared to downtown’s 4.6%,
since the beginning of 2010. While the downtown market appears to be outpacing the suburbs through the recovery, this margin doesn’t
quite support the “massive downtown migration” trend often seen in the headlines.
S U B U R B A Nd o w n t o w nVS
3.6%
5.0%
4.6%
3.6%
OFFICE LEASING ABSORPTION OVER THE PAST 6 YEARS
What is more interesting is looking at the data after stripping out the top five corporate relocations from the suburbs to downtown over the same period.
The resulting story around the rest of the market is surprising: without these headline deals, the suburbs would be experiencing much stronger absorption than downtown (5.0% suburban vs 3.6% downtown).
MOTO MOBILITY604,000 SF
hillshire brands233,000 SF
gogo wireless232,000 SF
conagra210,000 SF
kraft heinz170,000 SF
1,450,000 RSFT H E S E F IV E D E A LS R E P R E S E N T
Contrary to perception, these statistics confirm strength in the suburban market supported by continuing tenant
commitments to remain and grow their businesses in suburban Chicago.
SUBURBAN
SUBURBAN
downtown
downtown
VS
THE REST OF THE MARKET
For additional information, please contact: Jack M. Trager | Senior Research Analyst | +1 312 228 3514 | [email protected]
2012 2013 2013 2015 2015