DENVER — COMMERCIALCafé recently released their latest study – 2018 Scheduled U.S. Office Completions, announcing the top markets for office deliveries in the final quarter of 2017, using Yardi Matrix data. The study offers insight into what the construction pipeline will have to offer in 2018.
Key takeaways:
- The new favorite destination for office construction appears to have shifted towards the suburbs with large-scale construction driving development outside of the primary urban areas;
- A total of 74.6 million square feet are scheduled for delivery in the nation’s top markets and cities, of which 35 million in suburban areas and only 15 million square feet headed for the central business districts;
- At city-level, top positions continue to be held by NYC and San Francisco, while Denver comes in 8th with Invesco Real Estate’s 16 Chestnut scheduled to add the largest amount of office space – 430,000 sq. ft. of the total 2.1 million sq. ft. estimated to be delivered next year;
- Denver also ranked 6th nationwide in the top 10 markets for suburban development, surpassing the likes of Seattle, Boston and Atlanta.
