Forecasting season is upon us.
Here are some of Studley Inc.’s prognostications for next year for the office market in Philadelphia’s Central Business District:
• Trophy space will continue to get tighter;
• Rents for this top-notch space will rise though distressed properties are having a “downward pull” on the remainder of the market;
• Firms will continue to shrink the amount of square footage they allot employees in offices as hoteling and collaborative work spaces are encouraged;
• Some tenants may begin to feel more confident to relocate rather than renew;
• The market will experience overall positive growth. ...
Link to article