office buildings

What is the future for US office space?

Category: CMBS

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Steve Jellinek, head of CMBS research at DBRS Morningstar, explores the impact of Covid-19 on the US office property sector

On a national level, the US office market is likely to see a rebound from the coronavirus pandemic-induced recession, even as net absorption has underperformed and construction remains elevated. The amount of sub-leasable space continues to shrink, declines in vacancy were seen in some major metropolitan areas in 2Q21, and office-using employment continues to grow amid the reopening economy.

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