Office sector leasing was flat in the second quarter, but the so-called flight to quality continued to gain speed, leading to what JLL has called a “widening divergence in absorption and rent growth based on building age and amenitization.”

“Continued reassessments of space needs as a result of delayed return-to-office plans pushed sublease availability upward modestly, even as the rate of take-backs and backfilling of sublease blocks was consistent with earlier quarters,” the firm notes in a new research report. “On the other hand, innovation-heavy submarkets and micromarkets remained bright spots in a heavily patchy real estate environment, witnessing buoyant inbound migration from both traditional and emerging industry tenants complemented by groundbreakings of midsized, boutique office space as part of mixed-use developments.”

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