The office space market is facing a new reality in 2024: lower demand and a need for adaptation. While new construction shrunk by 28% compared to last year with 97 million square feet currently under development nationwide, there’s an interesting twist: Cities are responding by converting unused offices into other uses, such as housing.
In the post-pandemic office market, the “flight to quality” trend among tenants has been growing alongside increased demands for sustainability. Consequently, demonstrating to clients that a property is equipped with the latest in energy-saving technologies and smart materials is the new standard. And, increasingly, clients are looking beyond their office windows to take a more holistic approach to sustainability, considering factors such as the city’s commitment to reducing carbon dioxide emissions, plans to build electric vehicle infrastructure or the stringency of local building policies.
One way to gauge the effects of the lockdown on the real estate industry is by tracking online activity. According
The inclusion of the Investing in Opportunity Act (IOA) in the Tax Cuts and Jobs Act of 2017 has sparked
One of the recurring features of a growing U.S. city is a tendency to greatly expand its footprint, a phenomenon
Last November, the McKinsey Global Institute released a study to determine prospective job gains and losses under different scenarios through
