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I was just discussing this with a coworker, Chicago has more downtown office space, but which metro area has more total office space? Is there any info on this?
I would think Chicago may have a bit more, but I bet it is close.
Chicago and DC (city) are second and third respectively behind NYC for having the most office space! I don't know too much about Chicago's burbs but DC has Tyson's Corner which has more office space than cities like Atlanta, Denver, Cleveland, Baltimore, etc.. There is also Rossyln, Crystal City, Silver Spring and Bethesda!
The more I think about it, i would actually think DC Metro has more; DC is the third largest office district in the US, and that doesnt even count Arlington (which has the worlds largest office building, the Pentagon), Tysons (14th largest office district in US), Bethesda, Silver Spring, the entire Dulles Toll Area (Reston), and if we count CSA's, Baltimore and Annapolis (or is the latter part of the MSA?)
The loop in Chicago is really a beast, but outside Oak Brook, Shaumburg, and the I88 corridor, I cant really think of any other large districts.
Yeah, Chicago's suburban office market lies more north/west, while the industrial/warehouse market lies more southwest for warehouse and south for industry.
Big suburban markets:
I-88 tollroad running out western suburbs - 41,434,230
1-90 tollroad running to the northwest suburbs - 26,065,754
O'hare area along the I-294/I-90 tollroads - 14,333,309
For the downtown area:
Central Loop area - 102,637,099
Michigan Ave/River North - 22,664,291
That's pretty impressive with the loop density, over 100,000,000 square feet in around 1.2 square miles. I believe the employment density in the central loop is well over 500,000 people per square mile. Add in all the retail, street-level, thousands of college students at downtown universities, residents taking care of business downtown and the toursits - it's a madhouse during the week.
I'm assuming DC would probably have a higher amount though. The area is by far more than any other metro oriented towards office type jobs with the federal government being based there.
I have worked as an property accountant and investment analyst for buildings/investments in the DC and suburban areas for about 7 years now, and I can definitely say that are has a TON of office space, and TON of GSA tenants. Not even to get started on all those lobbiests and national associations that have offices in the city that directly feed into the fact it's the federal government.
^ Thanks for the great insight; DC is a powerhouse in terms of office space, I would be the highest amount of white collar type jobs in the US per capita.
Chicago is no slouch either; I would bet that in terms of total office space in a metro area it is for #3 or 4 (depending on if Los Angeles has more or not)
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