NAR Commercial Survey: Top Ten Markets Ranked

In New York, Texas and Florida dominated the rankings of the top office markets in the nation, according the National Association of Realtors’ Commercial Market Insights report released Monday.

Since the second quarter of 2020, vacancy rates have declined for multifamily, industrial and retail properties.

Compared to one year ago, asking rents climbed for multifamily (11%), industrial (7%) and retail (2%) properties, but declined for office properties (-0.4%).

Texas and Florida have a large share of the strong commercial markets in the third quarter, NAR reported.

The Top Ten

In alphabetical order, the Top 10 markets are:

• Austin, Texas
• Boise, Idaho
• Chattanooga, Tennessee
• Daytona Beach, Florida
• Miami, Florida
• Myrtle Beach, South Carolina
• Omaha, Nebraska
• Palm Beach, Florida
• Provo, Utah
• San Antonio, Texas

Austin’s Boom

Hines, a Houston-based developer, recently reported it has several new Austin projects in the pipeline, including T3 Eastside, a mass timber office and residential building will consist of 92,000 SF of office and 9,200 SF of residential space featuring 15 loft-style residential units.

Austin’s New Google Building Designed by Pelli Clarke Pelli