Madison Street Beat

MADISON STREET BEAT– Q1 2022 

Occupancy rates in Q1 ’22 fell slightly compared to last year, as many companies put return-to-office plans on hold due to the Omicron wave and tenants returned gradually into adjusted workspaces. Madison’s office market occupancy rates remain relatively stable and well above national averages.

Madison has now seen two consecutive quarters of positive absorption and the trend is expected to continue. This follows five consecutive quarters of negative absorption from Q3 ’20 to Q3 ’21. Transaction activity was strong in Q1, nearly returning to pre-pandemic levels of activity.  Transactions continued to be a mix of planned conversions and redevelopments as well and office investment deals.

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.