Owners of office buildings stumbled through 2022, when their holdings underperformed most every other type of commercial real estate. Now, a possible recession is making the outlook for 2023 even gloomier.
The office vacancy rate was 12.3% at the end of September, up from 9.2% at the end of 2019.
Owners of office buildings stumbled through 2022, when their holdings underperformed most every other type of commercial real estate. Things look poised to get worse in 2023.in greater numbers. But the national return rate has crept up slowly. For the past three months, it has plateaued at about half of what it was before the pandemic.
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