How office sales, demand could impact 2023 market

Originally posted in the Birmingham Business Journal By Illyshia Parker – Jan 26, 2023

Office leasing has been doing well as companies plan for space needs in a new era of in-office work, but local real estate professionals say there’s less momentum on the office sales side.

John Hardin, managing director at Shannon Waltchack, said there’s been a drop off in the number of building sales and expects to see fewer on the market in 2023. Although there always seems to be a flurry of sales toward the end of the year, he ultimately believes 2021 acquisitions will outpace 2022. He will know for certain when fourth-quarter 2022 data is finalized.

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