Corporate cuts extend to office sizes

05

Mar
2013
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Budget Cuts
Categories :News

Original story from Kansas City Business Journal.

The days of huge, opulent corporate offices are giving way to a time of smaller spaces and cheaper rents, Reuters reports.

Companies looking to cut real estate costs have fed a movement to smaller spaces and more efficient use of that space. The average office space per person has gone from about 250 square feet to 150 square feet since 2008, according to a researcher for Jones Lang LaSalle Inc.

Common office layouts now stress open spaces that both accommodate more employees and encourage collaboration.

Market Trend: Net Absorption Positive 812,371 SF for Kansas City’s Office Market in Q4 2012

20

Feb
2013
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Market Reports
Categories :News

Original story from CoStar

Net absorption for the overall Kansas City office market was positive 812,371 square feet in the fourth quarter 2012. That compares to positive 110,296 square feet in the third quarter 2012, positive 125,069 square feet in the second quarter 2012, and negative (129,590) square feet in the first quarter 2012.

The Class A office market recorded net absorption of positive 560,337 square feet in the fourth quarter 2012, compared to positive 43,871 square feet in the third quarter 2012, positive 212,860 in the second quarter 2012, and negative (115,613) in the first quarter 2012.

The Class B office market recorded net absorption of positive 153,448 square feet in the fourth quarter 2012, compared to positive 14,384 square feet in the third quarter 2012, negative (134,485) in the second quarter 2012, and negative (43,650) in the first quarter 2012.

The Class C office market recorded net absorption of positive 98,586 square feet in the fourth quarter 2012 compared to positive 52,041 square feet in the third quarter 2012, positive 46,694 in the second quarter 2012, and positive 29,673 in the first quarter 2012.

Net absorption for Kansas City’s central business district was positive 45,634 square feet in the fourth quarter 2012. That compares to positive 34,610 square feet in the third quarter 2012, negative (142,942) in the second quarter 2012, and negative (6,843) in the first quarter 2012.