The rarity of high-rise office buildings, coupled with the tendency of taller buildings to taper to smaller floor plates, results in the vast majority of office inventory in the U.S. sitting in lower floors of buildings: 66% of all office space sits on floors 1-5, while 1% of inventory sits on the 40th floor or higher.
Despite over 20% vacancy rates for office space nationally, suites on floors 20 and above have just a 12.4% vacancy rate.
Of the 253 buildings that remain under construction nationally, just 12 are planned to be 30 stories or above, and among those at least six have fully pre-leased their high-rise floors.
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