Non-Tech Tenants: Small, but Dependable in Great Numbers

• While many companies meticulously reassessed how office space would fit into their business operations, tenants that continued to lease space—namely those in the FIRE* sector—not only rightsized, but also sought longer term length compared to their TAMI** sector counterparts, which preferred short-term leases in order to pivot easily amid economic uncertainty.
• The number of large deals, often leased by the TAMI sector, dwindled as 2022 progressed, which signaled the emergence of small-medium FIRE tenants over medium-large TAMI tenants as dominant office users.

*Financial, insurance, real estate, and legal industries

**Technology, advertising, media, and information industries