Matrix Bulletin-Office Analysis-June 2021 June 29, 2021

Offices face more empty space post-pandemic

COVID-19 has transformed the office market, with empty spaces growing as companies implement flexible work schedules. Growing sublease space and shrinking demand have increased the U.S. vacancy rate by 240 basis points since April 2020, according to a new analysis by Yardi Matrix. What’s more, vacancy rates could rise significantly higher, depending on how companies handle return to work.