Institutional investors are increasingly moving away from primary office markets and targeting secondary cities, according to industry experts. The high cost of real estate in primary office markets has formed a significant barrier to entry for investors. The average sale price for office space has reached $439.05 per sq. ft. in primary office markets in March, up from $362.01 per sq. ft. five years ago. In secondary office markets, the average sale price hit $222.63 per sq. ft., up from $149.90 per sq. ft. five years ago, according to data from research firm the CoStar Group. FULL ARTICLE |