2nd Round of Office Unloading

The first round of office unloading hit with COVID, now we have company downsizing. While it’s two different scenarios, one thing is clear - offices are changing. The Wall Street Journal just published an article titled “Meta, Lyft, Salesforce and Other Tech Firms Dump Office Space as They Downsize” detailing the latest office space changes. According to the article, technology companies have placed about 30 million square feet of office space on the market. The national office vacancy rate is up to 12.5% - the highest since 2011. As the economy continues to change, WSJ predicts that more tech companies will join this wave of office unloading.