Office Development Finishes Down In 2020, Outlook Better for 2021
Share via Shortlink SL Green’s Marc Holliday with One Vanderbilt and Riverside Investment’s John O’Donnell with 110 North Wacker (Photos via SL Green, Riverside) UPDATED, Feb. 5 2021, 4:00 p.m.: The office market took a beating in 2020, with completed developments down 14 percent from 2019 levels. But with construction delays easing, the outlook for 2021 is less bleak. Just 81.5 million square feet of delivered office developments were completed in 2020, Commercial Property Executive reported. The top 10 completed projects accounted for 13.4 percent of new office construction, a...
Source: therealdeal.com