| 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 |
