Cushman & Wakefield MarketBeat reports analyze quarterly commercial real estate activity including supply, demand and pricing trends.
Access second quarter 2020 commercial real estate results for the office sector by downloading our report.
Given the severe blow to the labor markets, it is not surprising that the office leasing environment was also impacted this quarter. Net absorption dropped from +5.2 million square feet (msf) in the first quarter to -22.8 msf in the second quarter. This was the largest quarterly decline in net demand for office space since the second quarter of 2009 during the Great Recession.