- U.S. office-market indices outperformed the general economy in the first half of 2016, particularly in the second quarter as absorption picked up steam despite disappointing GDP growth.
- The strong office leasing in Q2 could prove to be a harbinger of stronger economic growth in the second half of the year.
- Job growth weakened somewhat in the beginning of 2016 but accelerated again this summer and is fueling office leasing, despite economic uncertainty over slower global economic growth, Brexit, and the November elections.
- Class A asking rents in both the Central Business District (CBD) and suburban areas posted solid quarterly and annual increases.
- Sales volumes have declined from 2015 largely due to slowing interest in suburban assets, despite core CBD markets showing increased interest and activity in Q2.
Download the copy of the report here.