Reports

Despite changing office space demand, companies are still eager to grow and strengthen culture, foster collaboration and ideation, and bring back a send of community. The hybrid model is here to stay, but it's not one size fits all.

After a challenging couple of years for Manhattan overall, Midtown South rents returned to pre-pandemic levels, ending mid-year at $77.50 psf/yr. This path to normalcy is being driven by commitments to new construction in Hudson Yards.

Despite a strong job market, fear of impending recession fueled by high inflation and tighter monetary policy is slowly starting to impact the Silicon Valley market, driving up the availability rate to 15.6%.

Decreased leasing in LA West throughout the pandemic was offset by steady demand from creative industry tenants, which currently have over 9.2 msf of new space requirements.

San Francisco’s leasing activity in the core CBD districts increased over 50% from H1 2021 as tenants gravitated back to the Financial and South Financial District where proximity to transportation, building amenities, and perceived safety.

Investment in Life Science and BioTechnology companies more than doubled in Q1 2022, paving the way for increased leasing activity.

Fueled by hiring sprees within the tech industry, robust leasing in Silicon Valley indicates the market is heading towards a return to pre-pandemic levels of activity.

Leasing and development activity will increase throughout 2022 with a significant amount concentrated in the Denver and Boulder County market due to the flight to quality.

The growth of gaming, streaming, and entertainment companies fueled LA West leasing activity.

The rise in total available space in San Francisco is partially due to sublease spaces expiring, but the opportunity to take advantage of discounted sublease rents is dwindling.

In 2021, leasing activity totals 2.7 million square feet so far this year with subleases accounting for 40% of space leased.

After a deep decline in demand in 2020, tenants in the market for office space increased to 3.6 million square feet in June 2021

LA West's 4.5 million square feet (msf) of current sublease availability represents 7.7% of the total office inventory, more than double the historical average of 2.8% dating back to 2005.

How to reopen your office in 2021

As the nation inches toward herd immunity, companies must determine when and how to reopen their workplaces.

Significant shifts in office demand are shaping the future of the workplace and for the second time in a decade, how office space will be used is undergoing dramatic changes.

The pandemic has affected virtually every industry, but one of the lone bright spots that has emerged is the unparalleled growth throughout the Food Tech industry.

Today’s office market is dynamic and rapidly evolving. It is a result of many factors, including recent pandemic-related layoffs and insolvencies, as well as companies experimenting with a hybrid workplace strategy.

Today’s office market is dynamic and rapidly evolving. It is a result of many factors, including recent pandemic-related layoffs and insolvencies, as well as companies experimenting with a hybrid workplace strategy.