CommercialEdge: Office Market Continues to See Challenges

CommercialEdge, Santa Barbara, Calif., found the average U.S. office listing rate was at $37.35 per square foot, down about 1.8% year-over-year, in January. That’s also down about 29 cents from December.

City-by-City Remote Trends Continue to Affect Office Vacancy Rates

CommercialEdge, Santa Barbara, Calif., reported that due to a variance in remote and hybrid work, some cities’ office markets remain more vulnerable than others, affecting metrics such as vacancy rates, rental prices, sales and pipelines.

Tech Sector Pressures Major Office Markets

Office-using sectors added 67,000 jobs in April–a 2% year-over-year increase–but demand for office space remains weak across major markets, reported CommercialEdge, Santa Barbara, Calif.

Downsizing Tech Sector Challenges Office Recovery

CommercialEdge, Santa Barbara, Calif., reported tech companies have been laying off workers and downsizing their office footprints to cut costs, which could make the office sector’s recovery even harder.

‘Murky’ Office Sector Outlook

CommercialEdge, Santa Barbara, Calif., called the office sector’s future “murky,” even now, well over two years since the COVID-19 pandemic started.

Office Sector Future Still Murky

CommercialEdge, Santa Barbara, Calif., said the office sector’s future remains murky, even more than two years after the COVID-19 pandemic started.

Industrial Transactions Surge

The first quarter is traditionally relatively quiet for commercial real estate transactions, but the industrial sector missed that memo this year.

Employers Pause Return-to-Office Plans

Employers are pausing their return to office plans in light of the Delta and Omicron COVID variants, said Yardi CommercialEdge, Santa Barbara, Calif.