Q2 2021: U.S. Office Figures

Market Report provided by CBRE

Q2 had the lowest quarterly level of negative absorption (-7.9 million sq. ft.) since the COVID downturn began, representing a substantial reduction from the 30 million-sq.-ft. average of the three previous quarters. The overall office vacancy rate rose by 50 basis points (bps) in Q2 to 16.5%, slightly below its peak level of 16.8% during the Global Financial Crisis.