By Cameron Williams, Director of Research, SVN International Corp.
Continued uneasiness surrounding demand as well as record setting vacancies have created a downturn in new office development in the beginning of 2023. Despite this, several markets are continuing to build.
With much of the space pre-leased, tenants are still signaling the demand for high quality property outside of central business districts. Life science lab space and class A suburban property are driving new construction in the following markets:
Reach out to an SVN Cornerstone Advisor today to learn more about how we can help you navigate the current CRE environment.