Columbia office market is healthy, despite the pandemic
Key Takeaways
- Corporate employers likely to reduce office footprint
- Local and regional employees return to offices
- Rental rates remain constant
- Tenants still unwilling to make long-term commitments
- In-person office tours increase
The Columbia office market is healthy despite some softening in the market. As the distribution of the COVID-19 vaccine continues, more employees are returning to the workplace. Coupled with substantial inward migration during 2020, demand should expand the need for additional office space, increasing absorption and eventually forcing the overall vacancy rate downward.
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