Research - APRIL 23, 2019

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Coworking led leasing activity for second quarter in a row

by Andrea Zander

Coworking led office leasing activity for the second quarter in a row, according to JLL’s U.S. office outlook – first quarter 2019 report.

Transaction volumes remained remarkably stable during the first quarter, the national office market saw 30.4 million square feet of activity larger than 20,000 square feet take place, almost exactly in line with the eight-quarter trailing average. Of this activity, the “big three” industries of tech, finance and coworking represented 47.7 percent of all leasing, further demonstrating their importance to the broader leasing market. Coworking in particular maintains its status as a key driver of growth, as nearly all activity is pure expansion.

Roughly 40 percent of leasing was expansionary in nature, healthy but below the 45 percent

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