Office sales completed through November exceeded $68 billion, surpassing last year’s total volume by 11 percent, reported Yardi CommercialEdge, Santa Barbara, Calif.
Tag: Office Sector
Office Market Recovery Pauses In August Amid COVID Flareups
The large-market office sector recovery lost momentum in August amid renewed concerns about COVID-19 variants, reported CBRE, Dallas.
Fitch: Return-to-Office Delays No Imminent Risk to Office REITs
Fitch Ratings, New York, said long-term office leasing plans will not likely be affected even if U.S. corporations continue to delay their return-to-office plans.
Fewer Firms Plan to Significantly Shrink Office Portfolios
U.S. companies have scaled back their plans to make big cuts to their office portfolios and many now expect their offices to support “collaborative” work in person rather than remotely, said CBRE, Dallas.
Sublease Space Weighing Office Market Down
Office vacancy rates have risen significantly since the pandemic hit. Yardi Matrix, Santa Barbara, Calif., reported one big reason for the spike: nearly every market has seen sublease space available jump.
Office Sector at a Crossroads
JLL, Chicago, says the U.S. office market is at a “critical crossroads.”
Reimagining Office While Working From Home
How companies and their workforces will use office going forward is an increasingly popular subject in 2020. There are questions around existing buildings and how landlord business plans and those of their lenders will perform.
Office Concessions Grow Under COVID
Office landlords are providing more concessions to their tenants under COVID-19, reported Trepp and CompStak.
Fitch: Secular Shifts Force U.S. Commercial Real Estate to Adapt
Fitch Ratings, New York/London, said post-pandemic, many U.S. commercial real estate segments will be transformed by the way space is used, which will have long-term consequences for property performance and financeability.
Office Vacancy Rate Could Reach 20% in 2022
The office sector saw downward pressure even before the COVID-19 crisis. Now, burdened with a shift toward remote working, it could be particularly hard hit in the coming years, said Moody’s Analytics, New York.