–The tech industry leased 6.6% more space during 2020-2023 YTD compared to leasing activity during 2016-2019. While many of the larger transactions were signed in 2020, tech is still driving the market with 17 deals executed so far in 2023.
–Although the banking, finance, insurance and real estate sector is at the heels of tech, it has seen a 41% decrease in activity over the last three years, the largest decrease in leasing activity when compared to other industries.
–The number of transactions are currently lower for the banking, finance, insurance and office industry, but as far as transaction size, this industry is less than 500,000 sf behind tech in the race for leasing activity by industry. Who will come out on top in 2023?
August 14, 2023