In the era of remote and hybrid work, some Midwest markets show unexpectedly high office building occupancy rates and increased sales transactions for office real estate, particularly in Class A and A+ spaces.
Midwest markets, such as Kansas City, Minneapolis, and Chicago, are experiencing an uptick in occupancy rates in premier office buildings owned by firms like Marc DeLuca's. Notably, a Chicago skyscraper went from 75% to nearly 100% occupancy post-pandemic, showcasing resilience in these markets.
Some Midwest markets are defying the narrative seen in gateway cities, with their recovery attributed to economic and societal trends. Factors contributing to this resilience include successful mitigation of high inflation rates, as exemplified by the Twin Cities metropolitan area.
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