The latter six months of 2012 will provide greater opportunities for commercial real estate investors and property owners to profit from increasing demand and rising rents. However, for businesses seeking office space for rent in top metropolitan markets like New York and Dallas, it may be wise to begin considering options now, before vacancies become too tight.
Cushman and Wakfield released its latest MarketView report, which looked at the state of commercial real estate on a global level. The report notes an undercurrent of pent-up demand in most of the world's major markets, and said this demand should manifest itself into increased office leasing by the second half of 2012.
Global commercial real estate investments increased 14 percent in 2011, while C&W expects North American investments to shoot upwards by 25 percent over last year's levels. North America, in fact, was seen as the region of the globe where investment opportunities were greatest.
While more investors interested in the North American commercial real estate market might suggest that businesses conducting an office space search would find a number of new properties on the market, the opposite may be true as supply growth has been limited in recent years. Indeed, C&W says it is more likely that leasing prices rise and availability becomes thin, which puts the onus on businesses on the lookout for office space leasing opportunities to start their searches sooner.
Partnering with the ideal consultant may offer businesses greater access to commercial space listings and may help expedite their search ahead of expected increases in price. As a result, these businesses may find themselves settled in new office space before the vacancy crunch sets in.