Demand for large blocks of space was greater than supply for a period of time in 2013-2014, triggering a new construction supply response. That trend has since reversed course and available large block supply is now nearly twice as high as large tenant demand. Over two-thirds of the current large block supply is in new construction buildings, which are seeking starting rents much higher than the marketwide Class A average of $76 per sq. ft.
Source: CBRE Research
West Coast Commercial Real Estate News