As a percentage of rentable area under construction, speculative office development this year is at the highest percentage CoStar has seen over 13 years.
While there may be issues to keep an eye on—such as shifting consumer behavior and rising inflation and interest rates—the outlook remains positive for the short term, several real estate economists told NREI.
Some of the cities that have the most units under construction right now—such as Los Angeles, for example,—do not have a big chunk in the planning stages.
