Posts by Hughes Marino

National Office Market – 2021: A Year of Sorting Out

Hughes Marino on March 09, 2022

Looking back at how the national commercial office markets were first impacted by COVID in 2020, availability rates in all US markets spiked—generally by 20% to 40%, but as high as 44% in New York City, 57% in Seattle and doubling in San Francisco. After this initial shock, 2021 became a year of sorting out, where many companies hit pause on their plans to go completely remote. While some people began to trickle back into the office, for the most part, tenants just kept paying the rent, hoping that COVID would end, and that people would come back…but it hasn’t, and they don’t seem to be.