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Tech Company Leasing Expected To Recover This Quarter From 46% Drop

"We see employment growth going forward, especially since demand has increased for many tech services and products during the pandemic. But it will be at a much slower pace than in 2019."

Tech remains the leader of US office leasing, even in a pandemic.

A new report from CBRE reveals that technology companies’ new leases and renewals for US  office space declined by nearly half in the second quarter from a year earlier, roughly in line with the drop in overall office leasing in that span. Despite that decline, tech still claims the largest share of office-leasing activity by industry at 20.5% for the quarter.

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Erika Morphy

 

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