The latest insights on commercial real estate trends

Office Market Outlook | Q1 2021

May 26, 2021

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




Source:  Colliers Research

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