Research

The Real Estate Roundtable quarterly index also showed that debt and equity capital remain widely available.

In general office development is shifting to the suburbs across the nation as space tightens in urban and CBD areas, according to Yardi Systems.

“When a decision-making team polls its workforce to understand what is most important to them, I think amenities are going to be the number one item on the list.”

Paced by major projects, such as the $1.2-billion Jacob K. Javits Convention Center expansion and other major initiatives, the total for the first three quarters of 2017 also outpaced the full-year totals from 2010 through 2014 and is on track to surpass the $4.6 billion in construction starts initiated in 2015.

Right now there are about 3.3 million square feet of last mile facilities that are within 20 miles of Logan Circle and only 11% within ten miles of that destination.

The major unknown in the forecast for net absorption in office space for 2018 is what will happen with tax reform and other national policy initiatives, says the NAIOP Research Foundation.