The Office Construction Pipeline: Factors Shaping the Future of Development

Office development across the country continues at an accelerating rate, with construction levels in most major markets – including New York, Los Angeles, Chicago and San Francisco – still above their recent averages. Steady U.S. employment growth of 1.6% during the past 12 months serves as a major catalyst for new development; other factors, including tenants’ increased desire for urbanization and proximity to transit, are influencing the location of new construction.

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