Anyone doubting that the US office sector would recover from the pandemic would be wise to review data from a Cushman & Wakefield's report issued this month, which identifies three green shoots responsible for a fast-paced, ongoing recovery.
It notes that office job creation continues at a steady pace and is recovering far faster than it did during the Great Financial Crisis. A healthy number of long-term leases are being signed. And lease activity as a whole is on the upswing.
During the past 16 months, the US office sector has been a two-sided tale told by lagging indicators on one side and leading indicators on the other. Lagging indicators confirm that the pandemic created the worst recession the office sector has ever faced.
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