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Sign in Sign up for a FREE subscriptionPositive net absorption in Q4 2023, Newmark reports
In 2023, losses in major gateway and secondary office markets were comparable, while tertiary markets outperformed, recording minor positive net absorption in fourth quarter 2024, according to Newmark.
Key takeaways from the National Q4 Office Report include:
Demand drivers:Fed efforts to combat inflation modestly slowed employment growth, but overall, labor markets remain in expansion. National office-using employment is now 6.4 percent above December 2019 levels. Labor market:Office-using employment has ma