Quote:
Originally Posted by VKChaz
Am curious, is there a target vacancy rate you have in mind that will help to pressure new construction forward? IIRC, the CBD rate was recently reported to be around 12.8%.
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Not really a magic number.........definitely support Jibba and RLW's points: it's more about a certain class/type of space, and more particularly new(ish) space within this category, and even more particularly still, larger blocks of such/larger tenants in the market for such (as this is what typically launches a new project).
There are definitely a bunch of medium-to-large size tenants currently in the market that would value brand new A+ space, and the fact that there is essentially no or next-to no contiguous large block space left in the two towers currently under construction is a very good sign for at least a couple additional launches over the next year....