Over the past four years, the office and industrial real estate markets have undergone seismic shifts. Since the onset of the pandemic, the office sector has struggled to keep up with evolving workplace demands and expectations. The abrupt shift to remote and hybrid work has led the sector to experience record-high national vacancy at 19.8%. Despite an uncertain outlook, not all is doom and gloom. Office tenants now favor newer, centrally located trophy and Class-A assets that offer modern amenities. Tenants are in a “flight to quality,” with the overall vacancy in these types of buildings decreasing by 5% in the past five years. Meanwhile, industrial real estate has witnessed record demand since 2020, with rent values growing and new construction happening across the country...
RSK: Some good concepts here. If you haven`t check out the SIOR designation and membership you ought to do so.
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- - Volume: 24 - WEEK: 18 Date: 4/30/2024 2:25:39 PM -