Office Absorption Report

According to a new 2019 National Office Absorption report just out by CoStar, net absorption is down 26% Midwest, 18% South, 9% in the West, but up 2% in the Northeast. No reasons for this given perhaps continued increases in productivity, corporate downsizing and offshoring/outsourcing?  Here in the Bay Area, especially San Francisco, companies are leasing 200 – 500,000 square feet blocks of space in proposed office buildings, some not only not built but not yet approved – that’s how frustrating this sub-market it!