Booming business downtowns - office space under construction by CBD (place, market)

[marothisu]

Another fun fact I wanted to mention while you are comparing DC and Chicago. Before the Pentagon was built, Chicago had the largest building by square footage in the US (Merchandise Mart). It is 4 million sq ftt - the Pentagon is 6.5 million sq ft. I know that the Pentagon is in Arlington but thought it would be fun to mention.

[stevers]

Originally Posted by DC's Finest

Yes, DC is continuing to build new office space. But like you mentioned, a lot of apartments/condos are going up in and around the DT area. DC has created new neighborhoods in areas that were once blighted maybe ten years ago. I'm curious to see what will happen to the current FBI Building on 10th and Penn DT. It's a huge brutalist looking building that will probably turn into a mixed use development. Capitol Crossing is another huge project that will deck over the 3rd street tunnel trench.

Yep, the construction going on there is crazy. I lived in DC from '09-'13 and during that time 14th street completely changed and NoMa was barely even a neighborhood. I'd love to see the FBI building converted to residential, along with everything south of the Mall while we are at it!

[DC's Finest]

Trump is about to start construction on the Old Post office building soon!

[DowntownDenizen]

Originally Posted by Ant131531

Laughable if Houston isn't near the top.

Downtown Houston had 0 square feet u/c according to the report. Not only that, but it had a vacancy rate of over 14%.

[18Montclair]

Originally Posted by DowntownDenizen

Downtown Houston had 0 square feet u/c according to the report. Not only that, but it had a vacancy rate of over 14%.

Yeah that would constitute exclusion from the top of the rankings. LOL

[BajanYankee]

Originally Posted by marothisu

Another fun fact I wanted to mention while you are comparing DC and Chicago. Before the Pentagon was built, Chicago had the largest building by square footage in the US (Merchandise Mart). It is 4 million sq ftt - the Pentagon is 6.5 million sq ft. I know that the Pentagon is in Arlington but thought it would be fun to mention.

That's interesting. I've never really thought about how many people work at the Pentagon before. It has 31,000 employees.

[Ant131531]

I thought Houston had some office towers going up...they must be still in the proposal stages then.

[MplsTodd]

Originally Posted by BajanYankee

I wonder how Downtown Louisville has more office space than Downtown Philadelphia with only a fraction of the workforce.

There's no way Downtown Louisville has that much office inventory, I'd bet that's their metro inventory.

Minneapolis has several downtown buildings that either have or will shortly begin construction, including:

Wells Fargo: approx 1 million sf in two buildings
Xcel Energy HQ Building: 212,000 sf
Krause Anderson HQ: 80,000 sf

In addition, a new HQ for 'be The Match' Bone Marrow Registry is scheduled to be built near Target Field, size is approximately 250,000 sf.

[kidphilly]

More than 2 million sq feet about to break ground in Philly in June between the FMC and CTIC tower.

[cpg35223]

Originally Posted by DowntownDenizen

-courtesy Colliers Q3 (2013) North American Office Outlook:


CBD - office space u/c (square feet)
------------------------------------------
Toronto - 5,703,545
Downtown Manhattan - 5,035,850
Midtown South Manhattan - 4,491,000
San Francisco - 4,155,920
Calgary - 3,938,000
Boston - 2,918,300
DC - 1,894,691
Vancouver - 1,816,253
Seattle - 1,411,000
Montreal - 943,543

It's a nice start, but these lists are usually wildly inaccurate, for they rely on self-reporting by developers, etc.