Blog
Concessions offered to lure office tenants are eating away at landlords’ income
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 Class A...
Office Occupiers Continue to Review Their Space Needs
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,...
In the Office, ‘We’ Space Taking Over ‘Me’ Space
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 including...
First Remote Working. Now a Looming Recession. What’s Next for Troubled Office Buildings?
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 indices continue to tumble at close of summer
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 for...
Types of leases: An Overview
We all know what leases are–legal contracts by which the landlord conveys a property (real estate or equipment) to the tenant for a predetermined time frame. The tenant makes periodic payments to the landlord in exchange of right to use the property for the specified...
Big companies want their employees back in the office
We explain how workers are responding. The pandemic upended American offices like nothing in memory. But now many big companies are again starting to require employees to work in person. To understand how that’s going, I called my colleague Emma Goldberg, who covers...
A recession could be great for the Philadelphia office market, according to one local CEO
Would a recession be just the thing the office market, landlords and central business districts need to get things back to - or at least close to -pre-pandemic levels of occupancy? "If a recession were to occur, that balance between employee and employer could result...
More Tenants Plan To Increase Space Next Year Than Shrink It
Also, close to two out of five tenants said they will be preferring longer occupancy terms to get ahead of possible rent increases. More than double the share of commercial real estate tenants are planning to increase rather than decrease their space next year,...
August 13—COVID-19 UPDATE: New Philadelphia COVID-19 restrictions require indoor businesses to require masks or verify vaccination
“The science is clear: these measures will protect Philadelphians and save lives,” Mayor Jim Kenney said. WHAT YOU SHOULD KNOW A new indoor mask mandate will go into effect in Philadelphia at midnight, the city announced Wednesday, except for businesses that require...
What employers can do when a worker refuses to be vaccinated
As companies return to the office, conflicts are likely to arise between the vaccinated and the unvaccinated. Here's how employers can manage the complex scenario. Click here to read the complete article
