{"id":12260,"date":"2017-09-06T11:03:36","date_gmt":"2017-09-06T11:03:36","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=12260"},"modified":"2026-04-07T17:08:16","modified_gmt":"2026-04-07T14:08:16","slug":"top-markets-us-office-development-since-2007","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/top-markets-us-office-development-since-2007\/","title":{"rendered":"Top Markets for US Office Development Since 2007"},"content":{"rendered":"

The U.S. office market is one of the most expensive in the world, and a top destination for national and offshore investors <\/a>alike. It’s no wonder then that office assets in the States fetch exorbitant prices<\/a> and investors continue to pump capital into developing bigger and better office buildings.<\/p>\n

With the help of Yardi Matrix<\/a> and PropertyShark<\/a> data, we looked at how the U.S. office scene evolved over the past decade, and which were the markets that stood out in terms of new office supply. We took into account office spaces within buildings larger than 50,000 square feet–buildings that are primarily used for office purposes (see ‘Methodology’). We ended up with a list of the top 50 metros for new office development. Check out some of our findings below:<\/p>\n

US Office Supply Market Recovers After 2011 Slump<\/h2>\n

Back in 2007, the U.S. real estate market was in full swing and prices reached their highest peak, fueling construction across all sectors. There was no shortage of office construction in the U.S. at the time, and the market recorded its best years in 2007 and 2008. After that, office development started to hit the brakes and followed a downward path for three years hitting a 10-year low in 2011, with less than 25 million square feet of office space added. Yet the market started to slowly get back on track the very next year, and though it has yet to reach the levels recorded before the recession, it seems to have stabilized at a more sustainable level.<\/p>\n

2015 proved to be the best year for new office construction in the U.S. following the 2011 slump, with close to 56 million square feet delivered, and 2016 followed the same trend. The current year looks even more promising, with nearly 35 million square feet of new office space delivered through June 2017. It remains to be seen whether 2017 will end on a high note, surpassing the levels of the previous two years.<\/p>\n

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