Burdened By Layoffs And Uncertainty, Tech Leasing To Remain Depressed The U.S. tech industry's retreat from office space, accelerated as the industry ramped up layoffs and normalized hybrid work schedules since 2022, promises another year of sluggish leasing, further stressing an already strained market. No turnaround is expected in the near term. Before the pandemic, tech companies were a major driver of leasing activity in major office hubs across the country, and their absence from potential tenant pools has significantly contributed to a steep drop in leasing that has exacerbated in 2024. 
“There's still a lot of demand to make up for,” Savills Vice President of Research Strategy and Insights Devon Munos said. “The larger tech companies have pulled back, and any leasing activity that we're seeing is primarily lease expiration-driven, rather than net new growth.”In 2019 the tech industry was responsible… Read the full story here. | 
