UK Broker Breaks Ranks, Says UK Occupiers Will ‘Dramatically Reduce’ Office Space
LSH says occupiers want to reduce office space "at the earliest possible opportunity."
LSH says occupiers want to reduce office space "at the earliest possible opportunity."
Demand remains at roughly two-thirds of pre-pandemic levels in U.S. office markets, according to VTS, but two major markets have swung in opposite directions.
The largest employer in Washington, D.C., has been taking a case-by-case approach to return-to-office plans, despite pledges to bring workers back.
Baker Hughes is set to cut its office space by more than 60% with a new 130K SF Energy Corridor HQ as it adjusts to the era of remote and hybrid work.
As Big Tech shows uncertainty about returning workers to the office, other segments are stepping in.
A California-based investor has purchased a five-building office complex in Mount Laurel that is 80% occupied by defense contractor Lockheed Martin.
Tesla's struggles mount as the company cuts 200 jobs and closes an office in the East Bay
Hines handing back the keys to a D.C. office building may have been the first such situation in the city this cycle, but experts say it won't be the last.
Comcast wants to sublease about 10% of its overall office footprint in the U.S. even as it mandates three days a week in person for office employees.
Hybrid and remote work continues to plague corporate decision-making on office space.
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