The office sector has a wide variety of tenants and building types. In the central business district of major metropolitan areas, office buildings can rise more than 40 stories and are leased to high quality, often national and international businesses. Larger corporations will own their own buildings and occupy the entire space, but generally office space is leased on long term leases to multiple tenants. Tenants in multi-story buildings will either lease an entire floor or multiple floors, depending on the size of the company. Suburban office space is located in midrise and single-tenant buildings. Many office buildings are located close to transportation hubs such as airports and highways in order to easily facilitate business travel. These types of locations are also advantageous in that they give the business high visibility. Professional building and property managers usually maintain and operate office buildings on behalf of the owner. Office buildings are rated by class from A to C depending on the age and quality of building, location, the quality of the tenants, the amount of rents commanded, and the management.
|Role / Company||Location||Posted|
|AVP Credit ManagerKeller Augusta||Boston, MA||May 23, 2022|
|Associate - Equity Portfolio ManagementMetLife Real Estate Investments||Dallas, TX||May 23, 2022|
|Asset Management Analyst/Associate, Private Equity Real EstatePCCP, LLC||El Segundo, CA||May 23, 2022|
|Head of Loan OperationsHigh Country Search Group||Denver, CO||May 20, 2022|
|Senior Manager, Real Estate CounselMacerich Management Company||Dallas, TX||May 20, 2022|
|Senior Manager, Real Estate CounselMacerich Management Company||Phoenix, AZ||May 20, 2022|
|Senior Manager, Real Estate CounselMacerich Management Company||Santa Monica, CA||May 20, 2022|
|Director Asset ManagementAxonic Properties||New York, NY||May 19, 2022|
|Managing Director of DevelopmentHigh Country Search Group||New York City, NY||May 19, 2022|
|Real Estate AnalystG4 Capital Partners||Manhattan, NY||May 18, 2022|
Looking to the future
The success of the office real estate sector is driven by the strength of the economy, in particular, job growth. As companies expand and businesses grow the increased demand for office space spurs development and increases rents. Technology and evolving understanding of workplace design and effectiveness has resulted in a long-term trend toward less office space per occupant, and such inputs will continue to influence office developments. Shared office designs and options, while still a small segment of overall office leasing, continue to attract attention.