Remote work is starting to hit office rents

Data: CBRE Econometric Advisors; Moody's; Chart: Axios Visuals

After a lag, the work-from-home revolution is finally starting to show up in the data for office building rental rates.

State of play: Major markets like San Francisco and Manhattan — where long commute times seem to be driving the durability of the WFH lifestyle — have been hit the hardest.