Flexible office leasing activity has another strong quarter

Manhattan, Los Angeles and Dallas/Fort Worth accounted for 38 percent of all flex leasing activity in the third quarter, with Manhattan alone accounting for 21 percent, according to CBRE. Rolling four-quarter totals for most major markets were up an average 54 percent, with the national average increase at 43 percent.

More than 98 percent of flex leasing activity in the third quarter was in new leases or expansions. A single operator, WeWork, accounted for 69 percent of all flex leasing activity in the third quarter.

Overall, flexible office leasing activity totaled 4 million square feet in the third quarter, up 9.4 percent from the prior quarter and up 4 percent from third quarter 2018.

To read the full report, click here.