The softening in U.S. office market fundamentals accelerated in the first quarter of 2023. Occupancy losses increased, vacancy rose at a faster pace, and sublease space hit a record high....
The softening in U.S. office market fundamentals accelerated in the first quarter of 2023. Occupancy losses increased, vacancy rose at a faster pace, and sublease space hit a record high.
Is a market correction ahead? Rents are under pressure from the triple-hit of tenant downsizing, sublease space and rising vacancy. The business outlook is mostly subdued and hybrid working is here to stay. Where’s the upside? Performance and demand differentials are expected to widen. Quality will win out as firms seek the optimal work experience to retain and attract the best talent and bring employees back to the office. To learn more, download the report.