Indian HR Blog’s Post

We all know by now that office space is in lower demand than it was pre-pandemic. A major outstanding question is how much leased space continues to go underutilized. In this latest piece, I discuss one way to measure that underutilization, using First American's U-Shadow vacancy rate.   Read more about which cities are facing greater underutilization of office space here: https://lnkd.in/ghk59F5H

💼 Finding the perfect office space shouldn't break the bank! Our latest guide reveals budget-friendly yet prestigious locations to elevate your business presence. Explore how to blend affordability with an impressive address here: https://lnkd.in/efRf5N3a 🌟

Interesting trend in Rochester! 📉 Suburban office vacancy rates are dropping, thanks to rising demand for medical office space. Great to see the market evolving with these new opportunities. 🏢💼 #Rochester #CommercialRealEstate #MedicalOffice #MarketTrends

Office vacancy rates continue to hit record levels, approaching an average of 20 percent nationwide. Explore our article about how this landscape is evolving and what it might mean for the future of office space. https://lnkd.in/g5Sqz2Uk

Check out my new article on Property Flash: "The Resurgence of Office Space in 2024" 🏢 Discover why office space deals are booming again, driven by economic recovery, hybrid work models, tech industry growth, and landlord incentives. Explore what this means for the CRE industry. #CommercialRealEstate #OfficeSpace #CRE #PropertyFlash #TITANPropertyGroup #TITAN #TPG https://lnkd.in/dT5rb5e5

Prime Office Space Leads and Will Continue to Do So Read the full article below..

Just released today, the NAIOP Research Foundation's Office Space Demand forecast shows that an increase in office space utilization likely won't truly come about until 2025. Until then, the shakiness of the economy and the still shifting working models (in-office, remote, hybrid) are likely to see many companies hitting pause on their expansion plans. But future growth is inevitable, even if we don't see it on the horizon just yet. I believe we will see more companies rethinking and consolidating their office space to use more intelligently. What trends or patterns do you see coming?

NAIOP just released its office space demand forecast report. The key takeaway is that office space absorption is expected to remain negative through 2024 and 2025, with anticipation of even further slowing in 2025. I recommend checking out the full report. https://ow.ly/IMap30sFcUC #OfficeSpace #CRE #CommercialRealEstate

The office market is nuanced, presenting a tale of two cities. In commodity office space, we observe record high vacancy rates and declining rental rates. However, Trophy Class A space is thriving with low vacancy rates and increasing rental rates. For instance, in Morristown, New Jersey, the trophy market boasts an 8.6% vacancy rate with a 51.6% increase in rental rates since the pandemic's onset. Despite media attention on Kastle Systems’ Back to Work Barometer data, it does not fully capture the market's complexity. From June 1 to June 30, the Kastle's barometer data reported average occupancy at 52.1%. However, when Kastle excluded commodity office spaces, the average occupancy rate surged to 74.2%. Understanding the nuances of the office market is crucial for informed decision-making. Researching thoroughly enables a comprehensive grasp of the dynamics at play. #office #backtotheoffice #hybrid #remote #workplacestrategy #cbre

Our Q2 Office Report provides a live look into the Cincinnati Office Market, here are the highlights. Check out the full report on our website. Cincinnati’s office market demonstrated both challenges and resilience in Q2 2024. Net absorption improved significantly, reaching 78.4 thousand SF compared to -48.4 thousand SF in Q2 2023 and -61.9 thousand SF in Q1 2024, indicating an increase in leased space. Despite a decrease in the Class A rental rate to $23.14 per SF year-to-date from $23.37 in 2023, the overall market rental rate rose slightly to $19.61 per SF from $19.46. The overall vacancy rate also decreased to 16.8% from 17.3% in Q2 2023 and 17.4% in Q1 2024. Total inventory remained stable at 59.6 million SF. Read the full report here: https://lnkd.in/ggd-4c2k