Office Stocks Post Biggest Rally Since Coronavirus Vaccine Announcement
Office REIT shares jumped an average of 11.5% on Nov. 14.
Office REIT shares jumped an average of 11.5% on Nov. 14.
The delivery giant plans to eliminate remote work after rolling out a hybrid work schedule last year.
Office landlords are offering an average of $98 per SF for tenant improvement allowances at Class-A properties nationwide, according to CBRE.
Some unwanted office buildings are being bought up by colleges and universities, though not nearly enough to shift the sector's fortunes.
As waves of distress wash over the central business district, real estate leaders say the city must take steps now to plan for a drastically different future.
The voluntary surrender of office buildings made up a third of all foreclosures in the first half of this year, the highest proportion since at least 2019.
Brookfield is making extra payments to secure an extension on a 706K SF office property
Despite the doom and gloom, landlords with spec suites are seeing a rise in activity.
Rhino Capital Advisors LLC acquired 110 Canal St. for $14.6M.
Vacancy in the city stood at 17% to end the year, dipping from 17.2% in the third quarter, according to a new Cushman & Wakefield report.
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