Partner Julie Hoffman recently moderated a panel examining the current trends in the office sector at the Bisnow Los Angeles Office & Workplace Market Outlook. Panelists from JLL, Boston Properties (BXP), WeWork, and Serendipity Labs joined Julie in discussing tenant demand, leasing activity, and flexible workspace. https://hubs.li/Q02HxNv70 #Office #BisnowLA #OfficeSpace #CRE
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"It's basically worth zero." Was the quote of the day from the Real Estate Investment Association - REIA Chicago’s most recent panel on the State of Office in the #Chicago and the broader #UnitedStates markets. Now, there is a lot more nuance to this statement. Let me walk you through it and how it applies to #Office #RealEstate, in today's market. First, this statement was mostly targeted at office stock that is below an A+ rating. Due to the type of environment office tenants are looking for, particularly as a method of attracting and retaining top talent, office buildings without A+ quality amenities and location benefits are particularly vulnerable in today's saturated office market, which is a side-effect of the shift to #WorkFromHome which caused an overall contraction of corporate office space. Second, prospective office tenants know that they are in a #BuyersMarket due to this saturation and are taking advantage by offering lower rental rates and asking for higher concessions, particularly in the form of #TenantImprovement concessions, so that they may achieve the type of employee environment mentioned above. When these two factors are compounded together and landlords net out their operational expenses against the lower rental rates and the additional concessions and costs of build-out, any office which is below an A+ rating is likely netting a negative rental rate, meaning that a landlord is paying a tenant to be placed in their building. As you can imagine, if a landlord is paying a tenant to be present in a building, there is no return being earned on that lease, aka, "Basically Worth Zero." It is a tough time to be an office landlord in today's market, however, with challenge comes opportunity. In today's market, landlords who are able to pivot, reposition or redevelop their assets to attract one of the few office tenants currently making a move or to reposition or completely redevelop their properties into new use-types will come out on top, as the dust continues to settle in today's challenging office market. Information like this is one of the reasons to join, or at least attend REIA's regular informational panels. Trust me, there was more said and discussed on how the current problems in office real estate can be solved, but you won't get that information without attending REIA's regularly hosted events. www.reia.org
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🌆🎉 Exciting Times at The Cheesegrater: A Peek into the City of London’s Real Estate Market 🏙️ ㅤㅤㅤ 📉 The pandemic has led to empty office spaces and a decline in commercial real estate occupancy rates in London and other major cities. This trend could have a lasting impact on the future of work and city landscapes. ㅤㅤㅤ 💼 The shift to remote working and hybrid work models is reshaping the way we view office spaces and their potential uses. It’s a time of transformation and adaptation in the real estate industry. ㅤㅤㅤ 📈 Despite challenges, there are opportunities for creative solutions and new ways of utilizing commercial real estate. The future of city centers and commercial properties is evolving. ㅤㅤㅤ 📰 Follow us to stay updated on the latest trends and insights in the real estate market as we navigate through this period of change. Don’t miss out on the exciting developments ahead! ㅤㅤㅤ #RealEstate #CityLiving #CommercialRealEstate #FutureOfWork #Transformation ㅤㅤㅤ
City of London's empty offices are gripped by a growing real estate crisis
thenationalnews.com
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We provide Specialist Transport to clients in London including galleries, antique and bespoke furniture companies.
OfficeMovesInEastLondon | A Complete Guide for Businesses 🏢✨ Navigating an office move in East London? Whether you're upsizing for growth or seeking a vibrant new locale, this transition is more than a physical shift—it's a strategic leap forward. 🌉🔑 In East London's dynamic landscape, finding the perfect space that aligns with your business vision, team's needs, and operational demands requires insight and preparation. Here's your comprehensive guide to making this journey smooth and successful. 🗺️💡 1. Understand the Market: East London's diverse districts offer unique advantages. From the tech hubs of Shoreditch to the creative quarters of Hackney, knowing the nuances of each area can significantly impact your decision. 🌐🔍 2. Planning is Paramount: Start early to navigate the complexities of leases, legalities, and logistics. A well-thought-out plan ensures minimal disruption to your operations and keeps your team informed and engaged. ⏳📈 3. Engage Experts: Consider partnering with local estate agents who specialize in commercial moves. Their expertise can be invaluable in finding hidden gems and negotiating favourable terms. 🤝💼 4. Employee Wellbeing: Your team is your biggest asset. Involve them in the process, consider their commute, and create a space that inspires creativity and productivity. 🧑💼🚀 5. Sustainability Matters: In today’s world, an eco-friendly move isn’t just good for the planet—it’s good for your brand and your bottom line. Look for sustainable buildings and practices that reflect your company's values. 🌍♻️ #EastLondon is not just a location; it's a statement of your business’s growth and forward-thinking ethos. Ready to make your move? Let's dive deep into what it takes to transition seamlessly in this vibrant part of the city. 🌟🏙️ #OfficeMovesInEastLondon, #BusinessGrowth, #EastLondonBusiness, #OfficeRelocation, #SustainableMoving, #TeamEngagement, #CommercialRealEstate, #LondonTechHub, #CreativeSpaces, #EstateAgentInsights, #MarketTrends https://lnkd.in/eN-KRKVp
Navigating Office Moves in East London: A Comprehensive Guide for Businesses
https://www.supermanwithavan.com
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I recently wrote an article dissecting the Boston office market, in addition to sharing top industry trends I'm seeing with my clients. The market is still struggling to find its bottom and historic low demand combined with spiking supply of quality office space, adds up to a perfect storm for landlords, and the perfect opportunity for tenants. Whether your lease expires in one year, or five years from now, I'm encouraging my clients to explore their options in this market to see how they can best benefit – learn more in my latest article or reach out to me directly! #Boston #OfficeMarket #TenantRepresentation
Tenants Win in Boston’s Current Office Market Environment - Hughes Marino Boston
https://hughesmarino.com/boston
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Manhattan's office market is bouncing back and doing it with style! 2024 is underway, and if the prediction of Ryan Masiello of VTS is correct, it will be a groundbreaking year for NYC, with total leasing expected to break the 30 million square feet mark—the highest since the days before the world turned upside down. In 2023, Manhattan's office market faced its toughest challenge, with a vacancy rate that soared to over 17%—a level many saw as hitting rock bottom. This was the direct result of the unprecedented challenges brought on by the pandemic. Now, defying all odds, Manhattan’s office market is not just recovering; it is experiencing a good rebound. On-the-Ground Optimism We are observing a surge in lease renewals and moves throughout most of the various markets in New York City. This isn't just great news for us in real estate; it's a win for everyone. It means our city's economic engine is revving up, ready to propel us forward with the momentum that keeps this city's heart beating. The ripple effect of a leasing resurgence is helping our eateries and retailers, who are the soul of our city streets. More foot traffic means more business, more life, and more of that New York City energy we've all been missing. The Big Picture So, what's the takeaway from all this? Simply put: New York City is on the rise again. The resilience, the spirit, the sheer force of will that defines our city shines through, proving that not even a global crisis can keep us down for long.
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According to VTS Boston's office market is experiencing a revival. 460 tenants are currently seeking a total of 6.5M SF of space in the market which marks an 8% increase from last month. The current demand is the highest since June 2021. The surge is driven predominantly by small to mid-sized businesses, particularly in the technology, advertising, media, and information sectors. These sectors have increased demand by 172% over 2023's monthly average. Notable activity spikes in Back Bay and Fenway highlight a revitalized interest in these areas and promise a recovery for Boston's office market. #bostonoffice #bostonleasing #bostoncre #cre #officeleasing https://lnkd.in/ecngks-k
VTS: Demand For Boston Offices Jumps 8% To New Pandemic-Era High
bisnow.com
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The commercial real estate industry has been facing a number of challenges these past few years.🏢 One challenge in New York City in particular, is the 95 million square feet of office space unoccupied. With the rise in hybrid or remote work, many offices stand empty. ❓ So how do commercial real estate owners attract tenants back? ❓ Our RVP, US Umair Ahmed dives into some ways commercial real estate owners might be able to attract tenants back: https://lnkd.in/dSbJ_2-3
The office dilemma: Tenant retention, hybrid working and how to revitalize commercial real estate.
getdefigo.com
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As we enter the fourth year since the pandemic began, Boston’s office market is still struggling to find its bottom. Historically low demand combined with spiking supply of quality office space adds up to a perfect storm for landlords, and the perfect opportunity for tenants. My colleague in Boston recently wrote an article dissecting the Boston office market, in addition to sharing top industry trends they’re seeing with their clients. Whether your lease expires in one year, or five years from now, we're always encouraging tenants to have a conversation about their options. #OfficeMarket #TenantRepresentation #Boston
Tenants Win in Boston’s Current Office Market Environment
https://hughesmarino.com
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In the world of flexible workspaces, one of the most important decisions landlords must make is the location of their real estate. But what should commercial real estate owners consider when making that crucial decision? 🤔 With extensive experience in CRE and flexible workspaces, our CEO, Wybo Wijnbergen, can provide first-hand knowledge of what landlords must contemplate before launching a workspace. Read Wybo’s blog for an in-depth look at the pros and cons to weigh up when picking locations… 👇 https://hubs.li/Q02y4-Zs0
The landlord’s guide to choosing a flexible workspace location
blog.infinitspace.com
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As we enter the fourth year since the pandemic began, the Boston office market is still struggling to find its bottom. Historically low demand combined with spiking supply of quality office space adds up to a perfect storm for landlords, and the perfect opportunity for tenants. In her latest article, Hughes Marino Boston vice president, Hannah McNeil dives into the Boston office market, and shares top industry trends she’s seeing with her clients. Whether your lease expires in one year, or five years from now, we encourage you to give her article a read to see how this current market environment can benefit you! #Boston #OfficeMarket #TenantRepresentation
Tenants Win in Boston’s Current Office Market Environment
https://hughesmarino.com
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