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office propery market

Office property market to recover from large occupancy loses in 2022

5 mins read

The FINANCIAL — Amid the job losses, business closures, and about 40% to 50% of office workers still working from home, office occupancy suffered its biggest loss yet in the second quarter of 2020, according to NAR’s latest October Commercial Market Insights report. The West and South regions suffered the largest office occupancy losses, led by San Francisco, New York, Phoenix, Los Angeles, and Dallas. At a pace of 100,000 jobs created monthly, employment in office-using jobs will recover only by 2022 Q2. This may seem long, but it is faster than the 4-year recovery during the Great Recession. West and South…

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Office property market to recover from large occupancy loses in 2022

5 mins read

The FINANCIAL — Amid the job losses, business closures, and about 40% to 50% of office workers still working from home, office occupancy suffered its biggest loss yet in the second quarter of 2020, according to NAR’s latest October Commercial Market Insights report. The West and South regions suffered the largest office occupancy losses, led by San…