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The office market, which is beset by historic high vacancies, will likely underperform in 2022 relative to the retail and industrial segments despite the expected return of more people to work.

Many companies will revise their office space needs down, said FNB property strategist John Loos, after the national vacancy rate rose nearly 18% on average during the first half of 2021 as the work-from-home trend gained traction...

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