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Old 03-07-2012, 07:49 PM
 
Location: Up on the moon laughing down on you
18,509 posts, read 28,157,104 times
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Quote:
Originally Posted by Summersm343 View Post
I agree, this is a better way to judge CBD's. However these numbers are wrong for Philly. Last reported on February 6th, 2012, the vacancy rate for the city was only 11.3% and is decreasing. It will be in the single digits by the end of the year.

Some of the suburbs have higher rates though. Bala Cynwyd and King of Prussia had a 14.3% vacancy rate and Blue Bell had an 18.8% vacancy rate.

Overall rent was up 2.3% however and rent is continuing to rise. There are several firms looking for over a million square feet (all firms square space needs combined) total in office space however. Comcast is also in need of more space. Independence Blue Cross is also in need of space and is in talks to fill the space within a mixed-use skyscraper at 20th and Market that Brandywine is planning that has yet to start construction. I expect the building to be at least 30 floors.

"Philadelphia ranks among the U.S. cities that have the least amount of vacant space in the CBD, along with New York, Boston, Washington, D.C., and Portland, Grubb & Ellis reported. The highest vacancy markets are in Detroit, Cincinnati, Atlanta, and Dallas."
the numbers were total numbers for the metro. The Vacancy rate reflect CBD and suburban vacancies

Quote:
Originally Posted by Stumbler. View Post
How about downtowns as ranked on that are "lively on the street" with people walking etc., nightlife etc.?

I would consider a downtown's influence based not on just buildings etc. but "volume of people on the ground", even at non-office hours.

I think a measure of how many people are going around shopping, walking, clubbing is a good measure of that. To me that's what makes a downtown a place to go, not office buildings.
you would have to go from Downtown to downtown counting people to make any scientific list.
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Old 03-07-2012, 08:20 PM
 
Location: Toronto
3,338 posts, read 5,789,769 times
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Quote:
Originally Posted by HtownLove View Post
the numbers were total numbers for the metro. The Vacancy rate reflect CBD and suburban vacancies

you would have to go from Downtown to downtown counting people to make any scientific list.
Aren't there rough estimates of pedestrian traffic?

Some kind of sampling of that?
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Old 03-07-2012, 10:52 PM
 
Location: Philadelphia, PA
8,702 posts, read 11,922,865 times
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Quote:
Originally Posted by HtownLove View Post
the numbers were total numbers for the metro. The Vacancy rate reflect CBD and suburban vacancies
Ahh. gotcha. Thanks
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Old 03-08-2012, 11:39 AM
 
Location: Boston
1,082 posts, read 2,489,474 times
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Quote:
Originally Posted by HtownLove View Post
The marketing companies put out lists of total office space by city.

Houston has 207M sq feet (with the medical center, 170s without)with a 16% vacancy rate
Atlanta has 161M with a 23% vacancy rate

Chicago has 237M sq feet with a 19% vacancy rate
Seattle has 90M with a 16.5% vacancy
Philly is at 105M witha 17% vacancy
LA has 190M with a 17% vacancy
193M for Boston with a 15% vacancy

And the big Daddy Manhattan is at 364M with an 8.5% vacancy
This is an interesting approach, potentially useful even. But how are they defining office space? Most of these I can't really evaluate, but there is absolutely no way possible that Boston has more than half as much office space as Manhattan. So what's being measured?
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Old 03-08-2012, 02:56 PM
 
Location: Philadelphia, PA
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Quote:
Originally Posted by HenryAlan View Post
This is an interesting approach, potentially useful even. But how are they defining office space? Most of these I can't really evaluate, but there is absolutely no way possible that Boston has more than half as much office space as Manhattan. So what's being measured?
It's certainly not square feet... I can tell you that for sure.
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Old 03-09-2012, 01:39 AM
 
1,108 posts, read 1,896,263 times
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In terms of big-city feel, I think it goes like this:

1. NYC
2. Chicago
3. San Francisco
4. Boston
5. Philly
6. DC
7. Los Angeles
8. Seattle
9. Portland
10. Denver
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Old 03-09-2012, 08:27 AM
 
11,172 posts, read 22,363,867 times
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Those vacancy rates must be including the entire metro area. I know in Chicago the CBD vacancy rate is 14%, but the suburban is 20%.

In the early 2000's the suburban rates were near 10% so they started building lots of office parks. Around that time though the CBD made a pretty big comeback, and companies like United, Sara Lee, Navteq, Allscripts, BP, Willis Groups, Now, Acco Brands, Barilla, etc. moved their headquarters or operations from the burbs to downtown.

Since 2003, the number of high-wage jobs has increased over 11% downtown, while decreasing 3% in the suburbs. There have been 18 million sf of space added downtown in 10 years, but the vacancy rate is only a few % higher.
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Old 03-09-2012, 11:14 AM
 
Location: Cleveland bound with MPLS in the rear-view
5,530 posts, read 10,134,238 times
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Quote:
Originally Posted by orzo View Post
In terms of big-city feel, I think it goes like this:

1. NYC
2. Chicago
3. San Francisco
4. Boston
5. Philly
6. DC
7. Los Angeles
8. Seattle
9. Portland
10. Denver
But DC feels "bigger" than Portland does, for instance...
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Old 03-09-2012, 11:15 AM
 
Location: Cleveland bound with MPLS in the rear-view
5,530 posts, read 10,134,238 times
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Quote:
Originally Posted by Chicago60614 View Post
Those vacancy rates must be including the entire metro area. I know in Chicago the CBD vacancy rate is 14%, but the suburban is 20%.

In the early 2000's the suburban rates were near 10% so they started building lots of office parks. Around that time though the CBD made a pretty big comeback, and companies like United, Sara Lee, Navteq, Allscripts, BP, Willis Groups, Now, Acco Brands, Barilla, etc. moved their headquarters or operations from the burbs to downtown.

Since 2003, the number of high-wage jobs has increased over 11% downtown, while decreasing 3% in the suburbs. There have been 18 million sf of space added downtown in 10 years, but the vacancy rate is only a few % higher.
God, I wish that would happen in the Twin Cities -- 12 of the area's 20 Fortune 500 companies operate outside of Minneapolis, including two monster companies in particular: UnitedHealth Group and Cargill!
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Old 03-13-2012, 10:48 AM
 
Location: Up on the moon laughing down on you
18,509 posts, read 28,157,104 times
Reputation: 7598
Quote:
Originally Posted by Chicago60614 View Post
Those vacancy rates must be including the entire metro area.
Yes, I said that.

see:

Quote:
Originally Posted by HtownLove View Post
the numbers were total numbers for the metro. The Vacancy rate reflect CBD and suburban vacancies
Quote:
Originally Posted by HenryAlan View Post
This is an interesting approach, potentially useful even. But how are they defining office space? Most of these I can't really evaluate, but there is absolutely no way possible that Boston has more than half as much office space as Manhattan. So what's being measured?
well it IS the entire metropolitan area of Boston that we are comparing JUST to Manhattan. is not like its just DT Boston. That is why the numbers are so large
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