Madison Street Beat
A look at key metrics for Madison’s Office Space Market – Q2/22
MADISON STREET BEAT– Q2/22
Occupancy rates increased slightly on a year over year basis as supply in the new office market remains limited. Q2/22 is the third consecutive quarter of positive absorption in the market, aligning with forecasted projections.
Demand for office space in the greater Madison area is higher in 2022 than it was in early 2020. Tenants looking for office space fall into several categories, including those who want to “right-size” their office footprint, those looking for healthy spaces with plenty of natural light and outdoor areas, or those looking to upgrade to higher quality workspace.