After closing out the first full quarter in a new economic environment, Portland office has reported minimal changes to market fundamentals. Rates have held, landlord collections remain above 90%, and sublease availabilities have only minimally increased. Deals that were on their way to being completed late into Q1 2020, concluded though others took a pause to assess and push off start dates or ask for larger concessions. With the majority of offices temporarily moving to a working from home structure, there has largely been a pause in movement within the market while tenants await statewide instruction. As cities have slowly begun to reopen, momentum and overall sentiment has veered optimistic with increased interest in shorter term leases and negotiations about concessions. In previous down cycle, there has been a direct correlation with increased sublease availabilities, but Portland office still hasn’t had any major variances. The second half of 2020 will set the tone for what a recovery may look like and how a global pandemic may forever change how we view office space.