This year, rents for the premium office buildings that make up the U.S. Skyline have been at record-highs, with a national average direct asking rent reaching $43.79 per square foot.
This month, JLL looked at the 10 most expensive Skyline markets based on their current direct asking rent. While the usual contenders persist, like New York City, Washington, DC and San Francisco, a few surprises also made the list as they become increasingly attractive places for technology occupiers.
Although Trophy space commands a 76.0 percent rental premium to the overall market, these top-of-the-market rents are now expected to hold steady as we near the peak of the economic cycle for the Skyline asset class. This is due to a combination of a natural “rent ceiling” being approached across the United States and new supply providing additional options in 2017.