While the pandemic forced many people to work from home locally and nationally, the Tuesday after Labor Day is slated as return-to-office day. How companies re-engage with the office will dictate future demand.
Rents started to show signs of softening on average after being buoyed by significant Class A availabilities being added to the market following the start of the pandemic.
The demand for life sciences underscores that sector’s resiliency. As a result, significant construction is underway, specifically within the University City submarket, where existing lab availabilities are practically non-existent.