BUSINESSWEEK ONLINE : DECEMBER 4, 2000 ISSUE
FRONTIER -- FORECAST 2001

ONLINE EXTRA: TABLE: Looking for the Ceiling on Office Rents


Looking for the Ceiling on Office Rents
At these prices, more small companies may be forced to relocate
 
Futurists predict that more small companies will be searching for new digs in the next five years, as they seek more affordable space and a locale that helps attract and retain hard-to-get employees. Unfortunately, office rents keep rising-although for the most part, you won't be dealing with the double-digit increases of the past few years. Here's a look at projected rents over the next two years and what you can expect to pay in various urban centers and their surrounding metropolitan areas. -Alison Stein Wellner
 
Overall Rental Rate Forecasts *
 
Market 2000Q4 2001Q4 2002Q4
 
CBD (central business district)      
 
Boston $50.99 $55.18 $58.72
Chicago $26.34 $28.29 $30.10
Dallas $18.82 $19.12 $19.57
Los Angeles $22.44 $22.49 $22.59
Miami $21.63 $23.60 $25.47
New York - Downtown $42.93 $47.41 $52.08
New York - Midtown $56.08 $60.47 $64.71
New York - Midtown South $46.24 $49.37 $52.31
Philadelphia $20.52 $21.61 $22.55
San Francisco $70.87 $75.51 $79.46
San Jose $43.01 $43.78 $40.35
Seattle $37.02 $40.49 $41.67
Washington, DC $37.02 $40.35 $42.60
 
Non-CBD      
 
Boston $28.05 $29.68 $31.28
Chicago $22.38 $22.77 $23.23
Dallas $20.85 $21.35 $21.11
Los Angeles $21.57 $21.96 $22.40
Miami $20.36 $20.88 $20.92
New York - Northern NJ $24.73 $26.25 $27.28
New York - Central NJ $23.35 $24.91 $26.09
Philadelphia $21.35 $21.62 $21.50
San Francisco $59.48 $63.19 $62.80
San Jose $53.10 $54.83 $55.90
Seattle $21.61 $22.40 $21.91
 
* As of third-quarter 2000
 
DATA: Cushman & Wakefield



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