An upcoming report by Colliers International found that Q1 of 2019 was subdued, as most first quarters typically are. Although absorption had slowed, Colliers said that this is not concerning as seven out of the top 10 US office markets had a positive net absorption in the quarter.
The current trends shaping the office market leasing includes, unsurprisingly, coworking and the tech industry. Coworking operators took up over one million square feet in Manhattan, with major leases being signed across the country including in Los Angeles, Washington D.C., Atlanta, and others.
Additionally, vacancy rose in five markets as new supply outpaced absorption, but the increases were modest.