The United States Office Market Continues To Struggle

David Amsterdam, President of Colliers Capital Markets, just sent out a bulletin with the following bullet points: Q4 negative absorption of 40.9 million sf is second-highest on record…ten metros posted negative absorption of at least one million (New York, Los Angeles, San Francisco, Chicago)…Sublease space now a record 188 million sf. I have been doing informal office leasing broker surveys, and most of them feel it will take until mid-2022 before the office market begins to right itself. Most also do not agree with the reports out that Corporate America will eventually shed 25% of it’s six billion square feet of U.S. office space…