United States office buildings continue their rise to lower vacancy, especially in technology focused areas. Employers filled up another 8.2 million square feet of office space in the second quarter of 2015 alone. While these numbers represent a record high since the recession, the numbers still lack conviction for strong growth. Between 2005-2007, employers occupied on average 14.9 million square feet of office space per quarter, and at the height of 2007, occupied 36 million more square feet total.
Office space seems to be “highly dependent on the strength of the local economies”. Employers focused in the technology sector have seen the greatest amount of vacancy declines. Fast growing tech companies in cities such as San Jose, San Francisco and Seattle keep opting for more space. Udemy, for example, an education technology startup, has moved 4 times and increased their square footage by almost 9-fold within the last year, keeping up with the growth of their staff. Houston, on the other hand, has been facing a surplus of office space because of crude oil, and has a vacancy rate higher than that of last year.