In High-Vacancy SoMa, Pembroke Signs 56K SF In Office Leases
Pembroke inks deals with three new tenants and another existing one at 140 Montgomery St.
Pembroke inks deals with three new tenants and another existing one at 140 Montgomery St.
The data shows that average office occupancy has settled at a consistent level.
Ingram associate Michael Mulia, who is speaking at Bisnow's New York office event on Oct. 24, discusses considerations for obtaining office space.
China's office vacancy rose to nearly 24% as of June, compared with 18% in the U.S., according to CBRE.
The San Jose-based streaming platform began enacting cost-saving measures in November and has put multiple offices on the sublease market.
Fitch Ratings revised its forecast to predict the U.S. CMBS loan delinquency rate will hit 11% in 2025.
Three-quarters of business leaders plan to shrink their office footprint next year as they lean on hybrid work to reduce operational costs.
Office space itself is not obsolete, but people’s expectations of how it should be used have changed profoundly.
New York-based real estate firm Brickman purchased the 71K SF property in 2014 and refinanced it in 2019 for $21M.
The landlord is already moving toward filling the vacancy, a spokesperson said.
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