Everything You Wanted to Know About NOLA’s Office Market [Update 2014]

by • May 28, 2014 • OfficeComments (0)1961

Photo Via Wikimedia Commons

Photo Via Wikimedia Commons

Earlier this year Corporate Realty, the New Orleans-based brokerage firm that’s known for its office leasing expertise, released its comprehensive report on everything you ever wanted to know about the Greater New Orleans Office Market for 2013.

Doubling down on their office knowledge, the firm has just published an update to their report, releasing the 1st Quarter 2014 Office Leasing Report.

In the first quarter the market saw positive absorption in the greater New Orleans and Jefferson office markets of approximately 10,000 square feet.

Metairie class A market surpassed 95% occupancy in the first quarter.

The Elmwood market had the largest positive absorption in the greater area, approximately 18,600 square feet, followed by approximately 4,900 square feet in the CBD class B market and 3,500 square feet in the Metairie class A market.

The CBD class A market had negative absorption of approximately 11,000 square feet, followed by the class B Metairie market 2,800 square feet, Kenner/West Metairie 1,700 square feet and West bank 1,100 square feet.

The report was prepared primarily by commercial broker Bruce Sossaman, Leasing Director of the Lakeway Center, in cooperation with building owner representatives. 

You can download the entire report here.

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