March 6, 2018
Researchers at CBRE found that at least one large office lease eclipsing 250,000 square feet was signed in 22 U.S. markets in 2017. The New York metro area had the highest number of large office leases signed, accounting for nearly 30% of the U.S. total, followed by Washington, DC and Chicago.
Technology companies accounted for more than one-quarter of the 83 largest office leases signed in the U.S. in 2017, according to CBRE. Next were financial services firms and government agencies. More than 40% of the space leased in large technology deals was in Seattle and San Francisco.
Leases by Market:
– New York Metro – 10.2 million square feet, 24 deals
– Washington, DC – 4.9 million square feet, 12 deals
– Chicago – 2.9 million square feet, 7 deals
– San Francisco and San Jose – 2.6 million square feet, 6 deals
– Seattle – 2.3 million square feet, 5 deals
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