{"id":22065,"date":"2019-04-24T14:00:24","date_gmt":"2019-04-24T21:00:24","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=22065"},"modified":"2026-02-22T15:28:06","modified_gmt":"2026-02-22T23:28:06","slug":"office-update-2","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/office-update-2\/","title":{"rendered":"Office Update"},"content":{"rendered":"<p>What\u2019s new in the U.S. office market? Lots, according to a new report from <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\">Yardi Matrix<\/a>.<\/p>\n<p>In summarizing the sector\u2019s performance in the first quarter of 2019, the report notes that:<img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-22066 size-medium\" src=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/04\/shutterstock_350398172-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/p>\n<ul>\n<li>Robust supply absorption produced a 1% increase in asking rents.<\/li>\n<li>Nearly 9 million square feet of office space came online through February, 7.9 million square feet of which was Class A.<\/li>\n<li>The national vacancy rate remained at 13.7%.<\/li>\n<li>San Francisco and parts of New York City led the asking rent increases, with changes in most metros being fairly minor.<\/li>\n<li>Only $13.3 billion dollars\u2019 worth of deals were closed in the quarter, the lowest quarterly total since 2013. Seasonality, a carryover from fourth quarter capital market volatility and the federal government shutdown all contributed to the sales slowdown.<\/li>\n<li>About 174.3 million square feet of office space was under construction as of March, with Manhattan, N.Y., and San Francisco having the most with 23 million square feet and 11 million square feet, respectively.<\/li>\n<\/ul>\n<p>There\u2019s much more insight in the full Yardi Matrix <a href=\"http:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/658-April2019OfficeReport?signup=false\">national office report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What\u2019s new in the U.S. office market? Lots, according to a new report from Yardi Matrix. In summarizing the sector\u2019s performance in the first quarter of 2019, the report notes that: Robust supply absorption produced a 1% increase in asking rents. Nearly 9 million square feet of office space came online through February, 7.9 million [&hellip;]<\/p>\n","protected":false},"author":610,"featured_media":22066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791,4],"tags":[1169],"class_list":["post-22065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","category-news","tag-yardi-matrix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yardi Blog<\/title>\n<meta name=\"description\" content=\"What\u2019s new in the U.S. office market? Lots, according to a new report from Yardi Matrix. In summarizing the sector\u2019s performance in the first quarter of\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Update\" \/>\n<meta property=\"og:description\" content=\"What\u2019s new in the U.S. office market? Lots, according to a new report from Yardi Matrix. 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