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This isnt by MSA, but rather Yardi Matrix's own defined markets. Bay Area I'm guessing is the SF-SJ MSA outside of the city of SF?
This is their take, other data gathering sources might have other findings. Take this with a grain of salt.
Yardi Matrix Total Value of Office Sales Activity by Market, 2021
Bay Area $8.069B
Manhattan $6.945B
Boston $5.305B
Seattle $4.868B
San Francisco $3.887B
Los Angeles $3.429B
Washington DC $3.281B
Atlanta $2.859B
Dallas $2.647B
Denver $2.636B
Phoenix $2.305B
New Jersey $1.983B
Austin $1.943B
San Diego $1.869B
Miami $1.743B
Charlotte $1.634B
Philadelphia $1.275B
Chicago $1.273B
Houston $993M
Twin Cities $741M
Tampa $702M
Nashville $695M
Orlando $381M
Portland $205M
Brooklyn $189M
Yardi Matrix Total Square Feet of Office Space Sales, 2021
Bay Area 15.637M
Atlanta 13.236M
Boston 13.131M
New Jersey 11.733M
Washington DC 11.432M
Denver 11.122M
Dallas 10.804M
Phoenix 9.766M
Seattle 8.495M
Los Angeles 8.049M
Philadelphia 7.203M
Chicago 6.918M
San Francisco 5.925M
Miami 5.908M
Houston 5.773M
Manhattan 5.542M
Twin Cities 4.843M
Charlotte 4.564M
Austin 4.404M
San Diego 4.107M
Tampa 3.966M
Nashville 2.683M
Orlando 2.396M
Portland 907K
Brooklyn 285K
2021 was not a very good year for Manhattan but it's price per sq ft was still double that of the next market--SF was also a bit off from previous years.
Yardi Matrix: Office Sales Price Per Sq Ft, 2021
Manhattan $1,253
Brooklyn $661
San Francisco $656
Seattle $572
Bay Area $516
San Diego $455
Austin $441
Los Angeles $426
Boston $404
Charlotte $358
Miami $295
Washington DC $287
Nashville $259
Dallas $245
Phoenix $236
Portland $226
Atlanta $216
Chicago $184
Philadelphia $177
Tampa $177
Houston $172
New Jersey $169
Orlando $159
Twin Cities $153
i was confused, i was gonna' say why is there an index of office space owned by yardies (then why name it yardi index) ? then i see san francisco and atlanta in the title and was like wouldnt n.y.c./miami have the largest concentration of caribbeans ?
There is actually a new February 2022 report out from Yardi Matrix with new numbers shown below
Office Stock Currently Under Construction - Jan. 2022 -
Market --------------- By Square Feet
Manhattan ------------- 19,171,105
Boston ----------------- 12,239,185
Austin ------------------ 9,061,827
Bay Area --------------- 7,069,995
San Francisco ---------- 6,032,853
Seattle ------------------ 5,967,187
Dallas ------------------- 5,817,807
Miami ------------------- 5,622,982
Nashville ---------------- 4,583,835
Washington DC --------- 4,532,073
Los Angeles ------------- 4,438,632
Chicago ----------------- 4,425,098
San Diego --------------- 3,993,580
Houston ----------------- 3,743,969
Atlanta ------------------ 3,236,087
Phoenix ------------------ 2,361,302
Portland ------------------ 2,320,285
Charlotte ----------------- 2,292,788
Brooklyn ----------------- 2,136,322
Tampa -------------------- 1,536,660
Orlando ------------------ 1,346,337
Denver ------------------- 1,259,923
New Jersey --------------- 994,635
Twin Cities ---------------- 670,819
There is actually a new February 2022 report out from Yardi Matrix with new numbers shown below
Office Stock Currently Under Construction - Jan. 2022 -
Market --------------- By Square Feet
Manhattan ------------- 19,171,105
Boston ----------------- 12,239,185
Austin ------------------ 9,061,827
Bay Area --------------- 7,069,995
San Francisco ---------- 6,032,853
Seattle ------------------ 5,967,187
Dallas ------------------- 5,817,807
Miami ------------------- 5,622,982
Nashville ---------------- 4,583,835
Washington DC --------- 4,532,073
Los Angeles ------------- 4,438,632
Chicago ----------------- 4,425,098
San Diego --------------- 3,993,580
Houston ----------------- 3,743,969
Atlanta ------------------ 3,236,087
Phoenix ------------------ 2,361,302
Portland ------------------ 2,320,285
Charlotte ----------------- 2,292,788
Brooklyn ----------------- 2,136,322
Tampa -------------------- 1,536,660
Orlando ------------------ 1,346,337
Denver ------------------- 1,259,923
New Jersey --------------- 994,635
Twin Cities ---------------- 670,819
.
Yes I know there is a monthly pdf, I was interested in annual sales data but all posts on the topic of office sales and development are welcome, so thanks!
Boston, Austin, Seattle, the Bay Area, and NYC are red hot.
Dallas, Miami and LA are very strong too.
NYC has such a huge lead over all other US cities. It's in a league of its own still.
Nashville's showing on this report is striking in terms of how much it has grown in the past decade. It has more office space under construction now than Chicago, LA, Atlanta, Denver, Houston...wow.
This isnt by MSA, but rather Yardi Matrix's own defined markets. Bay Area I'm guessing is the SF-SJ MSA outside of the city of SF?
This is their take, other data gathering sources might have other findings. Take this with a grain of salt.
Yardi Matrix Total Value of Office Sales Activity by Market, 2021
Bay Area $8.069B
Manhattan $6.945B
Boston $5.305B
...
this o.p. is inconsistent. its comparing a metro region with a municipality with a district of a municipality ?
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