Los Angeles and Philadelphia had the greatest degree of office market recovery in February based on a composite index of leasing activity, tenants in the market and sublease space availability, according to CBRE’s Pulse Report for February.
Amid rising economic headwinds, the Leasing Activity Index fell in 10 of the top 11 U.S. markets tracked by CBRE, with Seattle, (-24 points), Denver (-17) and Dallas/Fort Worth (-17) down the most. Washington, D.C. (+2) was the only market with increased leasing activity in February, following a 37-point decline in January.
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