Tech Sector Scales Back on Office Space, but Still Leads Leasing Activity: CBRE

By Michael Tucker

Tech industry job loss has been minimal during the pandemic, and the tech sector is still driving U.S. office-leasing activity, reported CBRE, Los Angeles.

CBRE said the tech industry’s share of U.S. office-leasing activity inched down only slightly in first-half 2020 to 20 percent from 21 percent last year.

“Few industries, if any, escape a pandemic unscathed, and tech isn’t an exception,” said CBRE Managing Director Todd Husak, who leads CBRE’s Tech & Media Practice. “However, the tech industry and the office markets where they have a significant presence are proving resilient this year. Much of the industry has established its value by providing the tech products and services needed to ensure business productivity and continuity.”

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