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In this climate of on-going health uncertainty, the winners in the leasing world are high-quality buildings that can meet changing infrastructure needs. The losers: older, lower quality properties that can’t adapt. That’s the conclusion of CoStar Group.

Based on gross leasing data collected from the beginning of the year through mid-May, CoStar found reduced demand for space amid a general mood of cautiousness among tenants. Leasing activity in the first two months of the year started off strong, surpassing monthly average levels of 2016 through 2019. However, leasing volume began to drop in March, as lockdowns took hold. Then, it plunged in April and May, down more than 50% from monthly average totals in 2016 through 2019. 

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