Landlords Getting More Flexible In Office Leasing, Even For Large Spaces

Flexible leases for larger workspaces could become more commonplace as the office market adapts to a new era of uncertainty.

While the demand for short-term leasing has been present for a while, the coronavirus has prompted landlords to think about how they can incorporate elements of the flexible office model into bigger and bigger office leases, panelists said during a Bisnow webinar about the future of office this week.

“Landlords that are able to give leasing flexibility into their leases will profit from that, because uncertainty is making it much more difficult for decision-makers to commit to a 10- to 15-year lease,” Somerset Development President Ralph Zucker said. “So we have to take the coworking model … and expand it all the way up to much larger footprints.”

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RSK: Again, saw this coming months ago. Also some of these spaces could be used for small classroom concept.



- - Volume: 8 - WEEK: 30 Date: 7/21/2020 9:25:23 AM -