Real estate: Office occupancy costs (suburbs)

The cost of office space is one of the top expenses for outsourcing operations after personnel compensation expenses. Summarized below are annual costs per square foot for Class A office space in the suburbs in key cities. The figures should be used with caution since occupancy costs can be highly variable within and across cities. Lower cost services operations commonly opt for lower cost properties in the suburbs while high value add operations may locate in central business districts (CBD).

Data is primarily sourced from an annual survey by Colliers International. Figures are gross rents for Class A properties and include all occupancy costs (e.g. rent, property taxes, and operating expenses). Class A properties command above average rents and are the most prestigious buildings in an area. Figures displayed below are averages across key cities in each country.