Business Trends

Office Demand Surges in Fourth Quarter 2012, by Cassidy Turley

File Type: Free Content, Article
Release Date: January 2013
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Office Building

U.S. office markets absorbed 20.1 million square feet (msf) in 4Q12, up from 7.1 msf in the previous quarter, resulting in the strongest quarter of demand for office space since 2007, according to research by Cassidy Turley.

As of 4Q12, the top 10 markets in terms of net absorption of office space are:

Phoenix: more than 1.2 msf
Boston:  more than 1.2 msf
Seattle: 1.1 msf 
Houston:  969,000 sf 
Chicago:  940,000 sf 
Long Island, N.Y.:  910,000 sf 
Silicon Valley:  908,000 sf