Flex Office Giant Bets Big On The Massive Asset Class You’ve Never Heard Of https://trib.al/GgtDM7l
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I gave this 60 minutes piece another listen last night. It has to be one of the best and simplest explanation of the complicated factors broadly effecting office real estate. My LinkedIn often feels like a real estate echo chamber, so I hope this breaks through to others I am connected with who are interested in better understanding what's happening with offices around the world. A few points, that help summarize: - The pandemic has fundamentally changed office culture, with fewer people going into physical offices and an overall more infrequent office presence. - Remote work is not just a trend but a significant societal shift, affecting where and how people choose to work and live. - Many office tenants have not yet made definitive decisions about their future in these spaces, adding to the market's unpredictability. - This has resulted in record-low occupancy and the looming expiration of $1.5 trillion in real estate loans (amidst high interest rates). - We can expect a dramatic decrease in the value of office buildings, in some cases is as much as 40%. - This is impactful because the office is a huge and significant asset class, and there are real limitations to converting office spaces into residential use. - Global real estate and financial markets are deeply interconnected. In particularly small regional banks with heavy exposure to commercial real estate loans. - This change has a profound effect on cities, especially through reduced tax revenue due to declining office value. But perhaps most importantly, this quote really resonated with me: "Where there is space, there's potential." It's honestly a joy to build a solution that helps bridge the gap and envision a future that's ultimately better for those that seek a better quality of life.
Hybrid work leaves offices empty and building owners reeling | 60 Minutes
https://www.youtube.com/
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Although this article was published in May of 2023 it is relevant as we enter 2024, an election year and the final year in which the last of the pandemic benefits will end. As office space occupancy begin to stabilize the question now is, will the remote hybrid work life become the new normal or will we go back to 100% office occupancy? This article sheds light on the office space trend and some statical information from corporate viewpoints. #betterworkingworld #hybridworkplace #revitalization
Observations in Office: Bellwether for distress, or opportunity for revitalization?
ey.com
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At the beginning of 2024, the office sector finds itself at a pivotal juncture, navigating a landscape shaped by a confluence of transformative forces. The repercussions of the pandemic continue to reverberate, prompting a profound reevaluation of traditional office paradigms. https://lnkd.in/gf3Mdwf7 #ccim #ccimwa #office #commercialrealestate
Office Trends in 2024: How Much Will the Sector Change?
https://www.commercialsearch.com/news
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Today’s office floor plans are seldom static. Changing business requirements, personnel shifts and other factors contribute to what are called Moves, Adds and Changes (MACs) in the office. What works well this year may not next year. Demountable walls accommodate these changes with minimum disruption. Click https://alurwalls.com/ to learn more about the benefits of our demountable walls.
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Flexibility Is How The Office Is Getting Its Groove Back https://trib.al/W2x6LmZ
Flexibility Is How The Office Is Getting Its Groove Back
bisnow.com
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"Q3 Trends in Manhattan Office Market: A Mix of Success and Struggle" Read the full article below..
“Q3 Trends in Manhattan Office Market: A Mix of Success and Struggle”
https://cremarketbeat.com
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Trimming office space budgets has long been a quick cost-cutting solution for companies in recessionary times. Now hybrid work is complicating matters. Here are four rules to follow: https://ow.ly/J0Ur50PF4GI
4 rules for CFOs cutting office space
cfodive.com
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Today’s office floor plans are seldom static. Changing business requirements, personnel shifts and other factors contribute to what are called Moves, Adds and Changes (MACs) in the office. What works well this year may not next year. Demountable walls accommodate these changes with minimum disruption. Click https://alurwalls.com/ to learn more about the benefits of our demountable walls.
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Reconsidering the State of Office - Connect CRE Are office spaces really on the brink of extinction? 🤔 Headlines have been dire, but experts suggest a more nuanced reality. Scott Morse from Citadel Partners believes the office sector isn't dead – it's evolving! 💥 Let's delve deeper into the future of work. https://lnkd.in/gEr5BSuq #OfficeTrends #FutureOfWork #RealEstate
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