There may be a little holiday hope for the office market. From September through November, office leasing activity rebounded. The activity has accounted for 50% of the total office leasing volume this year, according to data from ZoomInfo. The reason: corporate office expansions.

Corporate users have continued to expand office footprints this year, generating office leasing activity in September, October and November. According to ZoomInfo data, 539 office-using companies have expanded in 2020. Amazon is among the biggest drivers of the growth. This year, the tech giant has expanded its physical office space in six tech hubs, adding 3,500 new jobs to the market.

Unexpectedly, work-from-home strategies also contributed to corporate expansion and new office leasing. Many companies have seen remote work as an opportunity to exit expensive urban markets without losing employees or leaving important job centers and access to labor. Several companies made the announcement to move this year, including Oracle and Hewlett Packard Enterprise, both of which are moving from Silicon Valley to markets in Texas.