Twelve of the largest US office markets showed signs of recovery in October, as more tenants seeking space entered the market across many of the top cities coast to coast, according to analysts from CBRE.
Buoyed by a strong medical office and life science sector, Boston continued to set the recovery's pace in October, while office demand gained strength in the Atlanta market. Houston, Manhattan, Washington, D.C., Denver and Seattle also showed improvement, according to CBRE.
CBRE's tenants-in-the-market index hit 86 in October, up four points from September, and recovery on that front was positive across most of the cities the firm tracks. Boston is the "US leader in pandemic-era office market performance," according to CBRE, with space requirements for tenants in the market 34% above the baseline level.
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