The Coronavirus and ensuing recession have altered the fortunes of the top 10 US office markets. How they weather the storm will be decided by choice of tenants, local conditions and not the least, whether workers return to the office in the foreseeable future.
That's the assessment in a report by Colliers International's Kevin Morgan, President, Northwest Region and Head of Agency Leasing; Stephen Newbold, National Director of Office Research; and Scott Nelson, CEO, Occupier Services, titled: "Research Report Top Office Markets Snapshot Q2 2020: A Sharp Reversal of Fortunes for the Leading U.S. Office Markets."
"We have seen a marked downturn in Q2 2020, but the true test will be the second half of 2020," the report states. "It may take several quarters, and multiple phases of reopening, before firms can fully assess their space needs."
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Suzette Parmley
Trenton Correspondent who covers the N.J. Supreme Court, Governor, Legislature. She also contributes to The Legal Intelligencer and law.com. Suzette joined New Jersey Law Journal in Jan. 2019 from the Philadelphia Inquirer where she was a former Trenton Statehouse Correspondent and Business Reporter/Columnist. Awards: 1st Place for 2020 coverage of NJ Supreme Court; 2019 Specialized Writing Category, 5-time winner of the Business Financial Writing Portfolio Award from the New Jersey Press Association. Graduate of the Fels Center of Government/University of Pennsylvania. Email: [email protected] or follow on Twitter: @SuzParmley
