In Louisville suburbs, office rents went up 8.4 percent between the fourth quarter of 2015 and the fourth quarter of 2016, to $17.96 per sq. ft.

In suburban Atlanta, rents went up by 10.1 percent, ending 2016 at an average of $22.47 per sq. ft.

Office rents in Greenville increased by 9.7 percent between the fourth quarter of 2015 and the fourth quarter of 2016, to $17.37 per sq. ft.

In Palm Beach County, office rents rose 9.5 percent year-over-year, to $31.92 per sq. ft. During the same period, vacancy declined by 240 basis points, to 16.5 percent.

Located at the heart of Kendall Square, Main Street has attracted technology and life sciences firms from across the globe due to its proximity to the Massachusetts Institute of Technology. With vacancy at 5.3 percent, asking rents along this street average $90 per sq. ft., a 143.6 percent premium over the average rent for comparable office space in the greater Boston market.

Rental rate growth for office properties in suburban Seattle reached 7.8 percent between the fourth quarter of 2015 and the fourth quarter of 2016, ending at $27.50 per sq. ft.

Nashville suburbs experienced year-over-year office rent growth of 16.2 percent, reaching $22.99 per sq. ft. by the end of 2016.

The Oakland market is benefitting from overflow from the San Francisco and San Jose markets.  The inflow of businesses from other parts of California also coincided with a multifamily construction boom already underway. The caveat: Rents grew by more than 7.0 percent on average annually, from 2013 to 2015, which Fannie Mae believes is unsustainable.

In the suburbs of Fort Lauderdale, office rent growth was 8.3 percent, reaching $29.28 per sq. ft. by the end of last year. The vacancy rate in the market fell by 300 basis points between the fourth quarter of 2015 and the fourth quarter of 2016, to 12.9 percent.