Even though Class A office space is now generally more available than pre-crisis and at more affordable rates, the share of tours in premium spaces has remained remarkably stable at 62% of all tours in each period.
Except for one city, that is—New York.
There, during the recovery months of June through October, tours of Trophy or Class A share rose to nearly 70% of all tours. In the pre-crisis months of January, February, and early March, with fewer options to choose from, a little over half (55%) of tours in New York were for Trophy or Class A office spaces.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
