Colliers’ latest research report highlights the office market’s response to the COVID-19 pandemic. The U.S. office market showed its first signs of cooling in the first quarter of 2020. Net absorption fell sharply but remained slightly positive, while there was a marginal increase in vacancy, which was coming off a record low. Construction levels fell but remain elevated while rents, for the most part, held firm. Although sales volume was down, capitalization rates (cap rates) and pricing held steady.
Q1 2020 Office Market Outlook Report
Download ReportColliers’ latest research report highlights the office market’s response to the COVID-19 pandemic. The U.S. office market showed its first signs of cooling in the first quarter of 2020. Net absorption fell sharply but remained slightly positive, while there was a marginal increase in vacancy, which was coming off a record low. Construction levels fell but remain elevated while rents, for the most part, held firm. Although sales volume was down, capitalization rates (cap rates) and pricing held steady.
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Stephen has over 35 years of Commercial Real Estate (CRE) Research experience gained in both the U.S. and U.K. He has an expert knowledge of many CRE markets across the U.S. Having worked with brokerage firms, asset managers and data providers he has a broad spectrum of experience and is adept in forecasting, analysis and strategy. Prior to joining Colliers, Stephen was a Research Director with CoStar based in Washington D.C. His career history also includes eight years as Director of U.S. Office Research with Deutsche Asset Management and six years as Head of Research with Newmark Knight Frank in London, U.K.
At Colliers, Stephen is responsible for all aspects of U.S. National Office research including authoring quarterly reports, press interviews and multi-market analysis. He works closely with multiple Colliers' business lines including Office Services, Capital Markets, Healthcare, Law Firm Services, Property Management and Occupier Services. He’s a frequent author of blogs and thought leadership pieces as well as giving presentations to clients and industry groups.
Scott Nelson is CEO, Occupier Services | Global at Colliers and is responsible for strategy and leadership of the global Occupier Services business unit. Occupier Services makes up the platform of talent and tools that supports our clients directly and in partnership with our transaction advisory professionals that lead many of these relationships. Occupier client engagements include tenant representation transaction advisory and project management assignments, multi-market accounts, to comprehensive corporate real estate outsourcing. Occupier Services includes service lines such as Enterprise Clients/Account Management, Client Experience, Strategic Consulting, Technology Services (including our Colliers360 platform), Lease Administration, Transaction Management and Project Management. Occupier Services is a global business with deep capabilities sitting within each of the three regions of Americas, EMEA and APAC.