Advertisement
Back To Daily Digest
Cushman & Wakefield Report Indicates Promise For The Office Sector
Tags: BUSINESS

Cushman & Wakefield Report Indicates Promise For The Office Sector

A recent report from Cushman & Wakefield shows that there are three key reasons for the ongoing office recovery seen in the U.S.

Office job growth, long-term leases, and leasing activity are the indicators that have led the commercial real estate firm to feel optimistic about the future of the office industry.

Research has indicated that the pandemic caused one of the worst recessions for the office sector, with the U.S. cutting 171 million square feet of space since the start of the health crisis.

However, Cushman & Wakefield’s report shows that the worst of this impact is nearly over, despite some analysts stating otherwise.

The Latest News
Delivered To Your Inbox

    For instance, while 2.9 million office jobs had been lost between March and April of 2020, around 2.2 million of those positions have been recovered as of July of this year.

    Additionally, the report found that over 75% of new leases signed during the first half of 2021 have been long-term, or for more than four years. 

    Leasing activity was also noted to have improved during the second quarter, with totals up 18% compared to the first quarter of 2021 and up 28% from the same time in 2020.

    ABOUT Aayat Ali
    Aayat Ali

    Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

    Ad
    Advertisement

    FOLLOW US

    • Facebook
    • Twitter
    • LinkedIn
    • instagram
    • pinterest
    Ad
    Advertisement
    Advertisement
    Advertisement
    Advertisement