Q1 2021 Covid Impact on Nation's Top 10 Cities

The rapid global spread of COVID-19, and the public health measures taken to reduce its deadly impacts, significantly changed National real estate market fundamentals. While the Nation has experienced its share of turbulent economic cycles, the speed and scope of the COVID-19 pandemic has been unprecedented. Economic recovery is expected to accelerating moving into 2021, with increase office leasing activity not far behind. National markets remain tenant-favorable as sublease availabilities continue to rise, vacancy rates remain high, and effective rents face downward pressure as concessions remain elevated.