{"id":480,"date":"2021-02-17T11:11:34","date_gmt":"2021-02-17T11:11:34","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=480"},"modified":"2023-02-17T08:55:16","modified_gmt":"2023-02-17T08:55:16","slug":"office-transactions-dropped-in-2020-but-rent-collections-stayed-strong-says-yardi-matrix","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/office-transactions-dropped-in-2020-but-rent-collections-stayed-strong-says-yardi-matrix\/","title":{"rendered":"Office Transactions Dropped in 2020 But Rent Collections Stayed Strong, Says Yardi Matrix"},"content":{"rendered":"<p><em>About $56.1 billion of office properties traded last year, down 46.9% from $105.6 billion in 2019<\/em><\/p>\n<p><strong>SANTA BARBARA, Calif., Feb. 16, 2021<\/strong> \u2013 Yardi\u00ae Matrix has released a new <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1193-MatrixBulletin-OfficeTransactions-January2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Office Transactions Bulletin<\/strong><\/a>, which reflects the volatility of the commercial office market in 2020. As expected, the fluctuating conditions are attributed to the economic uncertainty caused by the COVID-19 pandemic.<\/p>\n<p>Around $56.1 billion of office properties traded last year, down 46.9% from $105.6 billion in 2019, according to Yardi Matrix data. The impact was felt broadly by region, with only a handful of exceptions.<\/p>\n<p>\u201cBy region, gateway markets and the Northeast fared better than most secondary and tertiary markets. Markets in which sales held up in 2020 have strong niche sectors, such as life sciences, biotechnology and pharmaceuticals,\u201d the bulletin states. Roadblocks to transactions included logistics, pricing uncertainty and limited debt availability.<\/p>\n<p>One bright spot for the sector was rent collections. Despite most office employees working from home for the majority of 2020, office rent remittance was above 90 percent.<\/p>\n<p>\u201cWhile this has created stability over the short term for offices, questions abound over the utility of office space and future space needs,\u201d states the bulletin. Answers will likely emerge as 2021 progresses and vaccines become more widely available.<\/p>\n<p>Dive deeper into the <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1193-MatrixBulletin-OfficeTransactions-January2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>office market conditions in the U.S.<\/strong><\/a><\/p>\n<p>Yardi Matrix offers the industry\u2019s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email <a href=\"mailto:matrix@yardi.com\">matrix@yardi.com<\/a>, call (480) 663-1149 or visit <a href=\"https:\/\/www.yardimatrix.com\">yardimatrix.com<\/a> to learn more.<\/p>\n<p><strong>About Yardi<\/strong><\/p>\n<p>Yardi\u00ae develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit <a href=\"https:\/\/www.yardi.com\">yardi.com.<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>About $56.1 billion of office properties traded last year, down 46.9% from $105.6 billion in 2019 SANTA BARBARA, Calif., Feb. 16, 2021 \u2013 Yardi\u00ae Matrix has released a new Office Transactions Bulletin, which reflects the volatility of the commercial office market in 2020. As expected, the fluctuating conditions are attributed to the economic uncertainty caused [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[427],"class_list":["post-480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-office-market-outlook"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Office Transactions Dropped in 2020 But Rent Collections Stayed Strong, Says Yardi Matrix - Yardi Matrix Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/office-transactions-dropped-in-2020-but-rent-collections-stayed-strong-says-yardi-matrix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Transactions Dropped in 2020 But Rent Collections Stayed Strong, Says Yardi Matrix\" \/>\n<meta property=\"og:description\" content=\"About $56.1 billion of office properties traded last year, down 46.9% from $105.6 billion in 2019 SANTA BARBARA, Calif., Feb. 16, 2021 \u2013 Yardi\u00ae Matrix has released a new Office Transactions Bulletin, which reflects the volatility of the commercial office market in 2020. As expected, the fluctuating conditions are attributed to the economic uncertainty caused [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/office-transactions-dropped-in-2020-but-rent-collections-stayed-strong-says-yardi-matrix\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-17T11:11:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-17T08:55:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Matrix_Blog_Matrix_Special_Report_OFF_Transactions_Blog_Social_Graphics_13161.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Adler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Office Transactions Dropped in 2020 But Rent Collections Stayed Strong, Says Yardi Matrix - Yardi Matrix Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/office-transactions-dropped-in-2020-but-rent-collections-stayed-strong-says-yardi-matrix\/","og_locale":"en_US","og_type":"article","og_title":"Office Transactions Dropped in 2020 But Rent Collections Stayed Strong, Says Yardi Matrix","og_description":"About $56.1 billion of office properties traded last year, down 46.9% from $105.6 billion in 2019 SANTA BARBARA, Calif., Feb. 16, 2021 \u2013 Yardi\u00ae Matrix has released a new Office Transactions Bulletin, which reflects the volatility of the commercial office market in 2020. 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