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BentallGreenOak Opens a new office in Austin Texas and has named Mike Leifeste as the head of Texas Coverage

Y-O-Y Office Sales Were $6 Billion Shy During First Months of 2021

While the Texas capital had positive office employment growth, the national picture was different. Overall U.S. office-using employment decreased 3.4 percent year-over-year. Similarly, only 151,000 jobs were added in the first two months of 2021 as compared to 209,000 per month between May and December 2020, according to a report from Commercial Edge.

Likewise, office sales since the beginning of the year totaled $5.5 billion, marking a sluggish take-off compared to the $11.7 billion reported for the same time period in 2020.

However, as vaccines become available to more people in the workforce and businesses begin to consider return-to-office strategies, the industry expects an increase in sales activity throughout the year. Then, perhaps by the fall, the office industry might have a clearer view regarding the future use of workspaces, says the report.


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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition