"From investment-driven innovation in the region's largest cities to creative disruptors hailing from the small university towns, the Northeast's tech scene comes in many shapes and sizes," the report noted.

With over half of the leases executed before 2020 yet to face an expiration event, this will challenge office fundamentals for some time.

A recent report by CommercialCafe ranked the 20 best Midwestern metro areas for tech development by several metrics, revealing surges in Madison, Ann Arbor and Chicago.

Optimizing spaces for a hybrid workforce is the key issue.