Columbia market returning to pre-pandemic activity
- Office market returning to pre-pandemic activity
- Office tenants choose to renew rather than relocate
- Columbia office market is expected to return to positive activity following a slight decline
At the start of the 2020 global pandemic, tenants were considering moving out of dense urban areas to more spacious suburban submarkets, and others forecasted additional demand for properties with single story and individual suites and their own entrance to avoid sharing space in building lobbies, elevators and restrooms. Other forecasts speculated tenants would begin buying their own office buildings. Additionally, companies began researching plans to downsize because employees may be working remotely more frequently or utilizing hoteling workspaces.
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