The Industry-Specific Trends of Office Leasing Demand

The future of the office market rests in a single question: will employees return to the office. If you review the current leasing trends, the answer is unclear. Tech, life science and health care industries are driving office lease activity, and many are expanding their footprint. Other industries, however, are going in the opposite direction and downsizing.

Scott Nelson, CEO of occupier services at Colliers, spoke to GlobeSt.com exclusively about the trend. Nelson saw an increase in office demand at the end of 2021, but he said the activity came alongside some notable downsizing activity. “We saw demand more from high-growth industry sectors and small- to mid-sized businesses, but we also saw quite a few big office space users across many industries, including professional services, that are reducing space,” he told GlobeSt.com. “You are seeing both.”