Bannon’s Post

$37.83 is the average price per square foot for office space. While this is the national average, each state, each county and each town has its own market. MyCentralJersey shares, "Though many say the suburban office real estate market is suffering, a new survey finds three Central Jersey areas among the country's 100 priciest office markets in 2023.On the list, compiled by PropertyShark based on the per square foot price data, were Interstate 287 South, ranked at 22, Bridgewater, at 58, and Cranford at 72." #StayTuned as we delve into this further! #commercialrealestate

Here’s prediction #5 … There will continue to be great value on Third Avenue as the availability of similar office space closer to Grand Central and Sixth Avenue keeps a lid on pricing. I can see over the next 12 months some demand returning as companies become more price sensitive and larger block of space start getting leased up closer to 6th Avenue #commercialrealestate #cre #realestate

Newer office properties outperform, but overall demand is still down in the Seattle region. My latest article explores the differences in absorption and availability in office buildings constructed before or after 2020. CoStar subscribers can read more on our website. #OfficeCRE #SeattleOffice #CoStar #CoStarNews

It is said that #CRE is really a black box: it’s super opaque and it’s hard to get the information. This is not the case with REDD. Take, for example, the occupancy rate of office buildings. It allows you to see what percentage of existing office space is not currently on offer (which doesn’t mean it can’t be in the future), i.e. either unavailable or simply let. This gives you a better idea of how much of the space in a given city or building (take your pick 😎) is being marketed. Below are a few such tidbits from our 2023 summary report. Want more context? Download the report here 👉 https://lnkd.in/dSw-JHKc #poland #commercialrealestate #digitalacceleration

From one-day tent displays to long-term leased larger floor plates, #IHDP is your one-stop solution for all your space needs. Whether you're looking for temporary setups or permanent offices, we've got you covered. Ready to elevate your business environment? Let’s make it happen—give us a try! #SpaceSolutions #BusinessGrowth #Leasing

At least in terms of the share of total volume (in square feet), office leases in Seattle have trended larger and longer this year. It's definitely more nuanced than that (extremely short leases also saw an uptick), but this trend seems to show some confidence on the part of tenants regarding their space needs. CoStar subscribers can read more in my latest article on the website. #SeattleCRE #SeattleOfficeLeasing #CoStar #CoStarNews

It’s no secret that office properties are, on average, struggling more than other property types. With tenants requiring less office space than they did only a few years ago, office prices are down by approximately 50 percent in urban locations, compared to pre-pandemic levels. But office leases are typically long-term, and many tenants that now have a reduced need for office space might still have several years remaining on their lease. In other words, many tenants are still leasing more space than they need, which some decision makers may increasingly view as an unnecessary expense. Given the outstanding quantity of leased, but underutilized, space that remains in a number of major markets, this downsizing dynamic likely isn’t over yet. Check out the latest CRE X-Factor from Xander Snyder https://lnkd.in/epmQyhvD #firstam #firstamtitle #cre #crexfactor

It’s no secret that office properties are, on average, struggling more than other property types. With tenants requiring less office space than they did only a few years ago, office prices are down by approximately 50 percent in urban locations, compared to pre-pandemic levels. But office leases are typically long-term, and many tenants that now have a reduced need for office space might still have several years remaining on their lease. In other words, many tenants are still leasing more space than they need, which some decision makers may increasingly view as an unnecessary expense. Given the outstanding quantity of leased, but underutilized, space that remains in a number of major markets, this downsizing dynamic likely isn’t over yet. Check out the latest CRE X-Factor from Xander Snyder https://lnkd.in/eux5eeDZ #firstam #firstamtitle #crexfactor #cre

It’s no secret that office properties are, on average, struggling more than other property types. With tenants requiring less office space than they did only a few years ago, office prices are down by approximately 50 percent in urban locations, compared to pre-pandemic levels. But office leases are typically long-term, and many tenants that now have a reduced need for office space might still have several years remaining on their lease. In other words, many tenants are still leasing more space than they need, which some decision makers may increasingly view as an unnecessary expense. Given the outstanding quantity of leased, but underutilized, space that remains in a number of major markets, this downsizing dynamic likely isn’t over yet. Check out the latest CRE X-Factor from Xander Snyder https://lnkd.in/eckzDZ5n #firstam #firstamtitle #cre #crexfactor

It’s no secret that office properties are, on average, struggling more than other property types. With tenants requiring less office space than they did only a few years ago, office prices are down by approximately 50 percent in urban locations, compared to pre-pandemic levels. But office leases are typically long-term, and many tenants that now have a reduced need for office space might still have several years remaining on their lease. In other words, many tenants are still leasing more space than they need, which some decision makers may increasingly view as an unnecessary expense. Given the outstanding quantity of leased, but underutilized, space that remains in a number of major markets, this downsizing dynamic likely isn’t over yet. Check out the latest CRE X-Factor from Xander Snyder https://lnkd.in/efdESrna #firstam #firstamtitle #crexfactor #cre