Current Office Market Conditions H2 2021
With Office Landlords hard hit by the pandemic, a unique window of opportunity exists for Tenants considering new or renewing existing space in 2021. We do believe this leverage will be short-lived and significantly reduced by 2023. Specifically, current market conditions are uncharacteristically favorable to Tenants. In particular, the pre-pandemic market was already weighed down by large blocks of vacant space caused by large corporate consolidations, which became greatly accelerated due to the Pandemic.