Investor Capital Moves Further Out On Risk Curve Betting that Office Tenants Are Ready to Expand as Economy Continues Growing
With the U.S. economy in expansion mode and construction largely in check, the question facing office landlords in 2015 is, which way is the office market headed? For most, the answer may largely depend on your location.
“We’re very bullish on the marketplace right now, at least through the first half of 2015,” said Randy Gabrielson, executive vice president at Newmark Cornish and Carey in Palo Alto, CA. “Heading into 2015, we continue to see job growth in the Silicon Valley, with interest rates staying low and the stock market high. There are a lot of larger tenants that have been in the marketplace, and when those deals land, there are other new tenants backfilling their requirements.”