While most office markets were upended by the pandemic, a handful of metro area submarkets exhibited “more favorable vacancy trends, lower increases in sublease space, and stronger rent performance,” according to Newmark.
Commonalities among these favorable markets include: life sciences industry demand; “anchor institutions” in the education, health and tech markets; and long-demonstrated appeal based on quality space, prime location and accessibility.
Investors of office assets can mitigate risk by assessing how an asset ranks among these commonalities.
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