McKinsey Report Details how Hybrid Work is ‘Here to Stay’ and the Ripple Effects on Real Estate

Seattle-area office vacancy rates have more than doubled from pre-pandemic levels. Vacancy rates rose to 12.2% in the second quarter, up from 11.2% in the first quarter and 2019’s low mark of 5.79%, according to a report from commercial real estate firm Kidder Mathews. That’s the sixth consecutive quarterly increase in regional vacancy.

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