Research - JUNE 25, 2021

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Newmark releases index comparing CRE opportunities and challenges across 22 U.S. markets

by Andrea Zander

Office markets across the country were challenged as a result of the increase in remote work during the pandemic and the uncertain timeline for some tenants' return to the office, according to Newmark in its Newmark Opportunity Index, a detailed report that examines and ranks 22 of the United States' largest metro markets across economic and property-specific metrics.

Nationally, office vacancy rates climbed from 13 percent in first quarter 2020 to 15.8 percent a year later, resulting in many asset owners offering substantial concessions, thereby reducing effective rents. Overall, the top ranked markets for office investment opportunities include Tampa, Miami, Dallas, Minneapolis and Philadelphia.

"While it's tempting to look at research like the index and designate certain markets as

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