Are office rents going down nationally?
Chart of the day: Office rents coming down
Data: CBRE Econometric Advisors; Moody's ; Chart: Axios Visuals
Rents at office buildings in The Loop are trending downward as remote work continues to reshape the commercial real estate landscape.
State of play: Rents are dropping at a larger rate in cities like San Francisco and New York — where long commute times seem to be driving the durability of the WFH lifestyle.
On the other hand, markets like Raleigh, Boston and Minneapolis — which have a higher concentration of health services, biotech and life science employment — seem to be faring well. (It's hard to do laboratory research from your home office.)