The office real estate leasing market in the United States was severely affected by the coronavirus pandemic. Before the pandemic, the average absorption rate of downtown offices was 38.6 million square feet, meaning that the amount of office space newly occupied was almost 39 million square feet more than the space vacated. After the pandemic, this trend reversed and more space was vacated than occupied annually, leading to a negative absorption rate.
Absorption rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023
(in million square feet)
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Statista. (August 25, 2023). Absorption rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023 (in million square feet) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1085718/office-absorption-rate-usa/
Statista. "Absorption rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023 (in million square feet)." Chart. August 25, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1085718/office-absorption-rate-usa/
Statista. (2023). Absorption rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023 (in million square feet). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1085718/office-absorption-rate-usa/
Statista. "Absorption Rate of Downtown and Suburban Office Real Estate in The United States from 2016 to 1st Half 2023 (in Million Square Feet)." Statista, Statista Inc., 25 Aug 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1085718/office-absorption-rate-usa/
Statista, Absorption rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023 (in million square feet) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1085718/office-absorption-rate-usa/ (last visited November 10, 2024)
Absorption rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023 (in million square feet) [Graph], Statista, August 25, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1085718/office-absorption-rate-usa/
