Commercial Investment Real Estate September/October 2019 | Page 43

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{ N ATION A L}
WeWork Is Largest
Chicago Office Tenant
Metro Area
Volume (in Millions) PSF
$1,272.8
$886.2
$692.9
$446.8
$399.4 $384
$390
$401
$333
$315
New York
Houston
Chicago
Atlanta
Milwaukee
The most active 2018 markets
for medical office building,
ranked by transaction volume:
MOB Action
Need another indicator of the strength in the coworking market?
WeWork is now the largest tenant leasing office space in Chicago.
The New York-based company signed its 12th Chicago lease
in June; the deal, for a 92,000-sf space, pushed WeWork’s
Chicago leases to more than 1 million sf. The company, says the
Chicago Tribune, is also the largest office tenant in Manhattan,
Washington, D.C., and London.
Source: “Healthcare Real Estate Outlook—United States,” JLL
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Demand Fuels Spec Warehouse Construction
Market
Riverside-San Bernardino-Ontario, Calif.
Atlanta
Dallas/Fort Worth
Pennsylvania I-78/81 Corridor
Houston
Chicago
New York/New Jersey
Seattle
Los Angeles
Las Vegas
Under Construction
(msf) Vacancy
Rate Annual Rent Growth
(U.S. Average: 4.4%)
23.4
16.1
15.2
12.1
10.0
7.7
7.0
6.1
5.6
5.5 3.2%
6.4%
5.9%
6.7%
5.8%
6.0%
3.4%
4.2%
1.4%
2.4% 9.4%
7.9%
3.1%
4.9%
4.1%
2.9%
4.8%
6.1%
8.5%
10.2%
More than 255 million sf of warehouse space was under construction in June, with 70.2 percent built
on speculation. Here are the top 10 markets for warehouse space under construction on spec:
Source: CBRE Econometric Advisors
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September | October 2019
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