Content related to ‘CBRE’

Top Tech U.S., Canada Cities Examined In CBRE Report

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Businesses looking for office space in the nation’s hottest tech markets should expect to pay a premium—and a hefty one in many of the top tech cities, according to a new research report by CBRE Group, Inc. The report, which analyzes the 30 top tech cities across the U.S. and Canada, showed an aggregate rent premium of 11% across all 30 markets. This figure increases significantly for the hottest tech submarkets. Boston’s East Cambridge is outperforming the rest of North America with rent premiums of 87%, followed by 85% in Santa Monica (Los Angeles) and 73% in Mountain View (Silicon Valley).   Discounts can still be found in some emerging submarkets including Washington D.C.’s Reston/Herndon (-23%), St. Louis CBD (-17%) and Northeast Charlotte (-12%).  “With rental rates less than the average market rate and a rising pool of talent, these emerging submarkets present opportunity for companies that can’t justify the premiums we’re seeing in some of the more established tech markets,” said Colin Yasukochi, director of research and analysis for CBRE. “Furthermore, most of these emerging tech submarkets are recording positive—and in some cases strong—rent growth, creating opportunities for real estate investors in these markets, as well.” CBRE Research analyzed the Tech-Thirty markets in terms of office-demand-generating high-tech software/services job growth and the resulting office rent growth. According to the report, the top 10 markets for Office Market Rent Growth are (ranked by growth rate, Q2 2013 to Q2 2015): San Francisco (30.7% growth rate)Silicon Valley (28.1%)Raleigh-Durham (23.4%)San Francisco Peninsula (21.0%)Vancouver (18.4%)Orange County (16.1%)Boston (14.4%)New York (14.1%)Dallas/Ft. Worth (13.4%)San Diego (12.7%) The CBRE report notes that the high-tech software/services industry has created 730,000 new jobs since 2009 and was the leading driver of U.S. office market demand, accounting for 20% of major leasing activity, through Q2 2015. In many leading tech markets, the sector is even more dominant: in Silicon Valley, Austin, San Francisco and Seattle, high-tech companies accounted for 88%, 63% 62%, and 60% of major leasing activity through Q2 2015, respectively. “The high-tech industry is directly supported by consumer demand and a growing number of high-tech integrated businesses, which should keep the… NOTE:This is a summary of a post found on Real Street Tech | The Smart Place For CRE.Parts of it may be missing. View the full original article at:

Big Office Buildings Tops In Adopting Green Practices

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There is a significant gap between large and small office buildings in achieving sustainability certification, according to the newest Green Building Adoption Index by CBRE Group, Inc. and Maastricht University.