Claire Roberts

The True Cost of WFH - Declining Building Revenue May Shift Tax Liability to Homeowners

Since the onset of the pandemic, most employers took a wait-and-see strategy hoping time would yield clarity.

Overall, during the second quarter, the market witnessed a decline in demand with the exception of premier Class A space. Newly built, newly renovated or spec suite spaces account for virtually all new leasing. Smaller users still are dominating activity while larger users continue to right size as they renew. Overall the Twin Cities office market saw nearly a half million square feet of negative absorption.