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Analysis

Office Tenants Are Leasing Much Less Space

The 100 largest office lease transactions last year totaled 29 million square feet, 32% lower than in 2019.

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Early data shows that office users favored smaller footprints in 2020. The trend supports theories that office demand would shrink in response to widespread remote work policies that sprouted during the pandemic.

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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