Q4 2022 Occupier Outlook
The Occupier Outlook is a quarterly report on the US economy, including office and industrial markets.
Mixed economic signals have caused organizations to be cautious. Low unemployment and strong job creation have been set against high inflation and rising interest rates. Long-awaited wage gains have been eroded by rising prices, but pent-up demand has caused strong consumer spending.
Office MarketAfter two years of uncertainty, the hybrid work model has emerged as the most popular approach for office tenants. The result has been a precipitous drop in demand for office space. Newly delivered office buildings and the accompanying amenities and ability to meet contemporary demands have been successful.
Industrial MarketThreats of an impending recession are becoming clearer, but economic drivers remain positive heading into 2023. Inflation-adjusted retail goods and truck tonnage remain at historic high levels, providing an optimistic setting for continued demand.
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