The workplace of the future needs to provide flexibility and wellness in order to drive innovation, said a design expert giving a keynote at the 2018 ULI Japan Fall Conference in Tokyo.

The overall availability rate for U.S. office space was unchanged as of the end of the third quarter of 2018, remaining at 18.1 percent, according to the latest Savills Studley Report: National Office Sector from commercial services firm Savills Studley. San Francisco remains the tightest market in the country, with an availability rate of 9 percent, followed by Boston/Suffolk County, 9.7 percent; New York City, 11.6 percent; and Austin, 12.8 percent.

While America’s South continues on a steady course with a growing population and an increasing number of jobs, officials are acting on some challenges, which include traffic, housing affordability, education needs, and the rising cost of construction.

Hong Kong Central remained the most expensive office market in the world, according to CBRE’s annual Global Prime Office Occupancy Costsreport. Hong Kong Central’s overall prime occupancy costs of US$307 per square foot (US$3,305 per sq m) per year topped the “most expensive” list, followed by London’s West End, Beijing’s Finance Street, and Hong Kong’s Kowloon.

While commercial real estate investors generally take a positive view on coworking, maintaining a balance of traditional and coworking space in a building is critical when it comes to creating long-term capital value. According to a CBRE survey, investors say that a coworking occupancy of a third of the space or less, with a qualified operator, supports a healthy capital value.

Speaking at a ULI Minnesota event, Kevin Cavenaugh, owner of Portland-based Guerrilla Development, said bigger is not necessarily better, and oftentimes it is worse, in terms of the complexity and risk.

With roughly 58,000 people moving to the city of Tampa in 2016 alone, the region stands out as an example of accelerating U.S. growth. Water Street Tampa will give an urban facelift to Tampa’s skyline and double the downtown area in size.

Improved U.S. office market fundamentals should continue, downtown markets will receive a disproportionate amount of new supply, the tech sector likely will remain a primary demand driver, and occupiers will pursue space efficiency and agility this year, according to a CBRE report.

The highly coveted second corporate headquarters of e-commerce giant Amazon.com would be a welcome addition to Austin, but the $5 billion project undoubtedly would produce more housing and transportation woes in one of the fastest-growing regions of the United States, said panelists at a ULI Austin event.

The Washington, D.C., region is shedding its reputation as a stodgy government town and emerging as a forward-thinking mecca for technology firms and young professionals. With eyes on attracting projects such as Amazon’s second headquarters, area landlords, brokers, architects, and economic development organizations are teaming up to ink leases with both high-profile and homegrown tech firms.