Office buildings were hit hard during the pandemic, leading to higher vacancy rates and reduced occupancy demand– trends that continue today. The 10% hit the very hardest between the first quarter of 2020 when the pandemic began and the fourth quarter in 2022 when it had greatly waned have been labeled the “hardest-hit buildings” or HHBs, by CBRE in a new report.  On average these buildings had an average vacancy rate of 18% at the end of 2022. Key is that they shared several common denominators. 

Age

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