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Office-Space-in-Need-of-a-Booster-

Combination line/column chart showing unstable demand in the office sector. Chart subtitle: Due to heightened concerns surrounding the Omicron variant, the outlook for office space remains murky amid unstable demand across markets and industries. Chart description: Left Y-axis shows Completion & Net Absorption (SF x 1000) ranging from -40,000 to +30,000. Right Y-axis shows Vacancy Rate from 0% to 18%. X-axis shows quarters from 4Q19 to 3Q21. Columns for completions and net absorption by quarter: 4Q19 at 17,834 and 13, 884; 1Q20 at 12,129 and 4,189; 2Q20 at 8,802 and -21,111; 3Q20 at 11,980 and -30,510; 4Q20 at 9,266 and -27,160; 1Q21 at 12,182 and -31,314; 2Q21 at 14,539 and -7322; 3Q21 at 11,015 and -5237. Vacancy rate line has steadily risen, from 12.2% in 4Q19 to 16.8% in 3Q21. Chart Sources: CBRE-EA, Barings Real Estate Research as of September 30, 2021. End chart description.
Posted on January 5, 2022January 5, 2022 Full size 1433 × 775

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Published inOffice Space in Need of a Booster

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