While location is what makes these streets so desirable, competition for space from technology companies is what's driving up rents.
Many of the nation’s most prominent companies are willing to pay a considerable premium for a high-profile address, according to the latest study by real estate services firm JLL, which ranks the priciest U.S. streets for office space. Asking rents for office space on the 47 most expensive U.S. streets average $48.65 per sq. ft. — nearly 47 percent more than the average for office rent nationally.
While location is what makes these streets so desirable, the movement of major technology companies to more prestigious locations has created competition with financial, legal and consulting services firms, driving up rents.
