Despite the doom and gloom of the pandemic, the TAMI sector is flourishing

By the end of Q4, the first COVID-19 vaccinations were administered across the United States, providing the country with some hope for an end to the current pandemic. Thus far, most occupiers have chosen to continue a “wait-andsee” approach regarding real estate plans. Demand was down for the second quarter in a row with 1.9 million square feet (msf) leased – a 35.5% decrease in activity year over year. TAMI (technology, advertising, media, and information) sector transactions totaled 2.1 msf in 2020, making up almost one third of annual leasing activity. Of particular note is that nearly half (49 .2%) of TAMI transaction volume for the year was comprised of new leases, creating some much-needed growth within the market. One of the top transactions of the quarter was completed by tech tenant, Microsoft, taking 185,966 square feet (sf) in a renewal and expansion at 12012 Sunset Hills Road in Reston Town Center.

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