U.S. Office Sector Still Faces Challenges Despite Improving Economic Fundamentals
Key Takeaways
- The U.S. office vacancy rate increased by 100 basis points in Q1 2020, to 14.2%
- Net absorption surpassed negative 45 million square feet in the first quarter
- Rents have yet to reflect the rise in vacancy rates
- Sublease supply reached 200 million square feet for the first time and has risen 65% during the past four quarters
- Following the flurry of transactions in Q4 2020, sales volume declined by $7.1 billion over the quarter, to $20.5 billion in Q1 2021
DOWNLOAD REPORT
Source: Colliers Research
