Office Optimism Builds As RTO Mandates Push Downsizing To Lowest Level Since 2019

Corporate executives and office brokers spent much of the last two years describing the widespread shrinking of office footprints as “rightsizing,” a euphemism that obscured the fact that most tenants were cutting space. 

But downsizing activity in the fourth quarter was at its lowest point since the start of the pandemic as corporate occupiers signal they are getting serious about return-to-office policies. It is an early sign of a shift in leasing strategies, with occupiers giving back less space and even expanding to welcome back employees who had been working from home...

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RSK: Well, this could be a good sign or it could mean that the majority of leases have been renewed and is why the rate has slowed down. Either way, it is some optimistic news.