Key takeaways from Cushman & Wakefield’s Q1 2023 U.S. Office MarketBeat include:
- Occupiers are looking for cost-cutting opportunities impacting leasing activity which has declined 23% quarter-over-quarter
- Increase in sublease availability which now accounts for 15% of overall vacancy
- Elevated vacancy likely to increase throughout 2023 but is expected to stabilize in 2024 as the economy recovers
