Many companies are sitting on their heels while figuring out how much office space they will actually need in a hybrid work environment. But they shouldn’t–commercial real estate brokers say that landlords are willing to make good deals now as the market slowly recovers. While lease vacancy rates aren't expected to return to the 30-year average of 15 percent until at least 2026, according to insights from real estate market research firm CBRE, leasing activity is up over 26 percent from last year.
Business owners have six to 18 months to make a deal before the market tightens and that, of course, could change if the pandemic experiences another wave. Read on for why you'll want to start looking now to see if making an office transition is a smart idea.
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