The enticements that companies receive to sign new office leases declined last year, on average, for the first time since at least 2019, according to CBRE, Dallas.
Tag: Mike Watts
CBRE: Office Lease Concessions Decline for First Time in 4 Years
The value of office-leasing concessions – including months of free rent – began to decline in the first half of this year and may be near a peak, according to a new report from CBRE, Dallas.
CMF Quote of the Week: Oct. 12, 2023
“Rents have flattened because a boom in apartment building in recent years has flooded the market with supply, but they haven’t yet posted a substantial decline because there’s still demand for rentals—especially as high mortgage rates keep many would-be homebuyers and sellers on the sidelines.”
–Redfin Economics Research Lead Chen Zhao.
CMF Quote of the Week: Oct. 5, 2023
“The growing trend around [office to multifamily] conversions may help to revitalize downtown areas that have been affected by changing workstyles that result in less need for office space.”
–Mike Watts, CBRE President of Investor Leasing.
CBRE: Office Lease Rates Highlight Flight-to-Quality Trend
CBRE, Dallas, said office rental trends indicate a “flight to quality” playing out across 12 major U.S. markets as companies adapt their workplaces for hybrid work.
Personnel News From Merchants Capital, CBRE, Bellwether Enterprise
Multifamily housing financier Merchants Capital hired Linda Hill as Senior Vice President in the Merchants Capital tax credit equity syndications division.