In New York, average work values (or tenant-improvement allowances) are up more than 46% since the third quarter of 2019, according to CompStak Inc. A growing spread between starting and effective rents illustrates how office landlords – even among coveted...
Colliers reported Q3 vacancy rates rose 30 bps; and 50 bps year-over-year. U.S. office vacancy rose at an increased pace in Q3 2022 and asking rents are mostly holding firm, but generous concessions remain on offer. Meanwhile, sublease space is at record levels,...
CBRE’s office utilization survey finds increase in collaborative space design. Employees’ workstyles have changed more in the past two years than in the previous 20, according to a new report about office space utilization by CBRE. Momentum was found with...
Although Current Distress Levels Are Low, Office Properties Backed by Nonperforming CMBS Loans May Signal Potential Defaults. The office sector is still reeling from the popularity of remote work, which means it will likely be more affected than other property types...
Office demand continued to decline in August, the latest sign hybrid work and a more pessimistic economic outlook continue to weigh on the U.S. office market recovery. VTS lnc.’s monthly tracker of office space demand, the VTS Office Demand Index, found demand...
