The headlines spell doom and gloom for the nation's office market. But what is lacking is distinguishing its differences, according to Cushman & Wakefield's 2024 U.S. Macro Outlook Report.
"The office market is more nuanced than ever. Headline statistics can be misleading, and understanding the complexity of the market will be critical for both owners and occupiers to form successful strategies in the coming years," said David Smith, the company's head of Americas Insights.
Despite the acute downward pressure on office space that the hybrid work environment has created, and the structurally lower demand for office space per additional office worker, the report sees some kind of stability being achieved as absorption increases over time in a complex sector.
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