Madison Street Beat

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.

Sales volume for Q2/22 was nearly double that of Q2/21 and in line with average pre-pandemic levels of transactions.  Larger deals are beginning to resurface in the market, though they tend to be single tenant buildings as opposed to multi-tenant.

Madison Street Beat  is a snapshot of key metrics for the Madison area office space market developed by Compass Properties. Information contained in this report is general with regard to the subject matter and should not be construed as a recommendation to make any real estate investments or any other financial transactions.  Neither Compass Properties nor any of its employees and agencies warrant the accuracy or assume any liability for information contained in this report.