Tech Office Leasing Plummeted in Fourth Quarter
Big tech once appeared to be a savior in the office market. A year later, it’s more of a harbinger of doom.
Leasing by tech companies fell drastically in the fourth quarter, down 57 percent across the country from the previous quarter, according to Savills data reported by Bisnow. The report noted that the 2.2 million square feet leased in the fourth quarter was barely a quarter of the 8.5 million taken a year earlier.