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Demand for office space, underpinned by steady job creation and elevated corporate confidence, has steadily tightened vacancy rates, pushing rent growth into its seventh positive year, according to a report by Marcus & Millichap The maturing cycle has begun to invigorate construction in markets that led the economic growth cycle, potentially creating areas with supply risk. Most markets remain on track toward strengthening fundamentals, but unique local market dynamics are driving more tactical decisions and raising investor caution.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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