by Evan Santos, Partner Relations at RealMassive
2016 has been the year of NERDS. We’re not talking about “nerds” portrayed in movies with thick glasses and pocket protectors. We’re talking about the five office markets that you should be keeping an eye on for strong talent, affordability, and investment opportunity.
At the end of 2014, JLL presented five office markets in their current cycle as hotspots for growth. The markets include: Nashville, the East Bay, Raleigh, Denver and Salt Lake City and were coined “the NERDS.”
According to JLL’s report, over the course of 2015, demographics, leasing and investments trends validated these markets’ place in the CRE landscape. By outperforming the national market on numerous metrics, the NERDS remain attractive locations for talent to migrate and companies to expand.
NERDS by the numbers:
In a fast accelerating investment environment, the outlook for NERDS remains optimistic and historically low volatility compared to primary markets presents a strong case for diversification into the NERDS from primary markets, which will complement the broader picture.
In 2016, the NERDS remained some of the most active office markets in the US. These secondary markets continue to attract investors and occupiers alike as the economy expands and larger metros overheat or tap out on talent. But as demand grows locally, so does pricing, and the window to watch these markets on the upswing is starting to narrow.
RealMassive is launching the first open and connected digital marketplace in Salt Lake City in January 2017. If you’d like to help modernize the industry and take advantage of early adopter programming, let’s connect!
See below for a presentation-style overview of the outlook presented by JLL: