Office tenant satisfaction declined to a new low since Q1 2014, according to Kingsley Associates’ Q2 2015 Office Industry Trends. For the four quarters ending on June 30, 2015, 87.6 percent of tenants indicated that their overall satisfaction was “good” or “excellent” with respect to their current office space, down from a peak of 89.0 percent in Q1 2015.
A few of the highlights from our Q2 2015 findings include:
- Boston and Miami saw substantial increases from one year ago among those tenants likely to renew (increases of 7.6 percent and 6.9 percent, respectively)
- Building ownership and “green” practices have both grown in importance as leasing decision factors versus three years ago
- Value for amount paid decreased by 9.1 percent among Seattle tenants
Kingsley Associates surveys office tenants occupying over 1 billion square feet annually on behalf of its clients. For additional data and analysis, see Kingsley Associates’ Q2 2015 office trends slides and press release.