Office deliveries this year were expected to surpass previous years, as demand for high-quality space was on the rise in most established office markets. But as the pandemic hit the country at the end of the first quarter, some plans were inevitably changed. However, in places where commercial construction activity was allowed to continue during lockdowns, deliveries remained quite high. As a result, some 42 million square feet came online in the U.S. over the first eight months of 2020, according to Yardi Matrix data.<\/p>\n
The five metros on this list account for almost 30 percent of the square footage that reached completion this year. However, if we look at deliveries as a percentage of existing stock, smaller markets emerge. For example, in Queens, five projects totaling 1.5 million square feet represent more than 6 percent of the metro\u2019s inventory.<\/p>\n