Office Market Update

Feb 15, 2022

Leasing activity remains sluggish as employers continued to delay return to work dates and contemplate the “new normal” and hybrid work scenarios. Many tenants are choosing short term lease renewals. Those companies that are comfortable making longer term commitments are seeking less square footage but in higher quality spaces in an effort to retain and attract employees in a market where unemployment is at only 2.2%. Many landlords are choosing to upgrade buildings and amenities and, while holding firm on rents, are more aggressive with concession packages to compete for those tenants willing to commit to longer leases.

Read Full Article – Market Update Year End 2021 – TaTonka