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The woes of the office sector are pervasive and no secret. The work-from-home phenomenon and the technology that enables it are clearly black swan drivers that have negatively impacted the sector. Apart from Class A+, trophy assets, the rest of the market is challenged, and even the market for trophy assets is nuanced. In some markets, where the culture is more supportive of in-person work, the office sector is actually doing well. Miami and Houston, for example. are performing quite well. Phil Mobley, National Director of Office Analytics for Costar, the country’s leading platform for CRE data analytics, shares his insights on the current state of the office sector.
