Moody’s Analytics REIS, New York, said the office sector is unlikely to see a massive decline in demand for space and values per square foot due to increased hybrid work-from-home arrangements.
Tag: Office Sector
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 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 Market At a ‘Critical Crossroads’
JLL, Chicago, says the U.S. office market is at a “critical crossroads.”
CBRE: Rent Enticements Larger Factor in New Office Leases
CBRE, Dallas, said the average amount of free rent office landlords conceded to secure long-term leases climbed significantly in the first quarter.
Office Demand Approaches Pre-COVID Levels in Some Large Markets
One year after the pandemic started, demand for office space in the country’s largest markets is approaching pre-COVID levels and recovery appears to be looming for several markets, reported VTS, New York.
Work-From-Home Movement Pressures Office Properties
The central business district shutdowns that began just over a year ago dramatically increased remote working and pressure on office properties, said Fitch Ratings, New York.
CBRE: Office Leases Reflect Preference for Renewals, Smaller Footprints
CBRE, Dallas, said renewals claimed more large office leases last year than in 2019, indicating many companies are postponing relocations and other real estate changes until they get clarity on the economic recovery and pandemic response.
Office Sector Still Reeling From Recession
Cushman & Wakefield, Chicago, reported the recession that began in March is still being felt in the U.S. office market.