Originally published on February 16, 2022, by Michael Boonshoft for Cushman & Wakefield.
Cushman & Wakefield, a leading global real estate services firm, today released a construction report, surveying 24 select office projects currently under construction in 12 major U.S. markets and Toronto. The report finds that new construction is commanding a significant rent premium of 64% over average Class A submarket rents, and 20% over existing top-tier trophy assets.