NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
“As the U.S. unemployment number continues to decline, the demand for office space has simultaneously increased as businesses expand,” said Jay Olshonsky, FRICS, SIOR, President of NAI Global. “The markets that will continue to successfully attract and retain companies are those with strong fundamentals and consistent economic drivers.”
The Washington D.C. office market for example recorded a net absorption of positive 1,821,132 square feet in the fourth quarter 2015. In comparison, the Washington office market recorded a net absorption of positive 1,170,073 square feet in the third quarter 2015.
The overall average quoted asking rental rate in the Philadelphia office market for the fourth quarter was $22.16 per square foot. In the third quarter 2015, the average quoted asking rental rate was $21.87 per square foot, representing a 1.3% increase in the fourth quarter.
“Overall, we are seeing relatively strong performance in the office market sector across the nation and continue to closely monitor each region as we identify the striving markets we are finding the greatest opportunities for our Members and their clients,” said Olshonsky.