Narratives around the so-called "flight to quality" are failing to move the needle on capital market performance, as the majority of Class B and C properties are slightly outperforming Class A counterparts.
"This doesn't mean that trading up is not occurring, but it's more likely that the true level of this activity is out of touch with the rhetoric," Moody's Analytics' Thomas LaSalvia writes in a new report in the Scotsman's Guide.
That includes the fact that many office-using companies "have done quite well" throughout the pandemic," LaSalvia says in the analysis.
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