• National Association of Realtors: Thriving Office Market in Secondary Cities

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    October 04, 2021
    As of September 10, New York, Washington D.C., Los Angeles, Chicago, San Francisco, Boston, Philadelphia, Denver, Seattle, and Northern New Jersey have suffered the largest declines in occupancy over a 12-month period. Twenty-six of 390 markets have lost over 1 million square feet in office occupancy on a net basis over the past 12 months ending September 19.
     
    However, secondary markets are experiencing rising occupancy, with the largest increases in Palm Beach, Durham, Austin, Boise, Pensacola, Provo, Salt Lake City, New Haven, Miami, Fargo, San Antonio, and Oklahoma, each of which absorbed at least 500,000 square feet of office space.
     
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