CBRE, Dallas, said the average amount of free rent office landlords conceded to secure long-term leases climbed significantly in the first quarter.
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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.
CBRE: Largest 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 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.