Transwestern

Mass Transit’s Influence on the Office Market

In densely populated commercial real estate markets across the country, both landlords and tenants have recognized that an increasingly important factor in attracting a quality workforce is accessibility to mass transit.

Yet every market offers a different level of access to transit-accessible buildings*.

How are transit-accessible buildings faring across the country? Click on the map to find out.

* Transit-accessible buildings are defined as those that are within a 10-minute walk from a subway, commuter rail or light rail facility. Public buses are excluded from this analysis.
data reflects Combined Statistical Area for major markets atlanta boston chicago dallas denver houston Los Angeles Miami Minneapolis New York/ N. New Jersey San Francisco phoenix St. Louis seattle Washington, D.C.

In examining 15 markets, Transwestern found:

Average Rent/Square Foot (NNN)

The national average rent for transit-accessible buildings is 65% higher than the average market rent.

Average Rents

Average Vacancy Rate

Average vacancy for transit-accessible buildings (8.3%) is slightly lower than vacancy across all properties (9.1%).

Average Vacancy

Total Rentable Building Area

Approximately 39% of total office inventory is transit-accessible, while the remainder is car-dependent.

Total Rentable Area

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In markets across the country, Transwestern research professionals produce sophisticated data analyses, local market reports and insight on national trends that help clients make informed real estate decisions. Visit us at transwestern.com.