John Bilyak SIOR, CCIM’s Post

We're excited to share our latest State of the U.S. Office Market Report! This quarter's report uncovers the latest insights, trends, and forecasts that are shaping the office market. For complete analysis and more on what occupiers can expect in the coming months, visit: https://lnkd.in/eNChv4xj #WeAreSavills #Office #CREInsights

We are pleased to share our latest State of the US Office Market Report. Expect occupiers with strong credit profiles to continue to be in the driver's seat as landlords remain aggressive at maintaining occupancy. A few other noteworthy facts: ·        Post-pandemic, the U.S. office market recovery remains sluggish amidst higher economic uncertainty and slowing office-using employment growth. ·        Office availability now stands at 24.8%, up 20 basis points from last quarter with available sublease space of 173.7 million square feet (msf), the first quarterly decrease in two years. ·        Overall leasing activity has slowed in 2023 to 181.9 msf which is an 11% decrease from 203.4 msf reported in 2022.

Flight to capital. If you are a financially established tenant with history of paying your rent, you will not believe what is available to you in the way of building quality, building amenities, concessions, and reoccurring occupancy costs. Tenants in Class B should be looking at Class A as they approach their lease expiration.

Q4 2023 U.S. Office Market Update: Despite economic uncertainties, the market shows resilience with shifts towards hybrid work models and a rise in sustainable building investments. Vacancy rates are stable, with innovative space usage and strategic, tenant-centric designs gaining momentum. The future looks promising as we adapt and evolve!

Facts & Factors expects the global flexible office market to grow 13.19% from 2024 to 2032, from USD 38 billion to USD 118 billion. Several reasons will drive the global flexible office market. Take a Look at the Complete Study: https://bit.ly/4aKvYIb https://lnkd.in/dY9hXAmB #flexibleoffci #flexible #flexiblejobs #officestyle #officespace #officesupplies #marketreport #marketshare #marketanalysis #SharePost #demand #GrowthChallenge #Size #forecast #industry #trendingreels

U.S. office utilization has barely shifted, according to the latest Office Report from CommercialEdge - the industry is still challenged by rising vacancy rates and a slowdown in demand for new office construction. Read the report to find out more. https://lnkd.in/ecECNfcQ

Despite return-to-office mandates from high profile companies, vacancy rates and office utilization have yet to show significant changes, with companies continuing to shrink their office footprints. Discover how these dynamics are reshaping the office sector in our October Report. Read the full report here: https://bit.ly/3QhyZbn #OfficeTrends #CREInsights #VacancyRates #CREData

Signs are emerging that companies are feeling more confident about their office-leasing decisions, and Colliers' Michael Lirtzman and Marianne Skorupski shared their insights with The Business Journals. The uptick in leasing demand may be coinciding with a few broader factors, including a more-certain economy and a bigger push by companies for their employees to be back in the office. Read the article here: https://ow.ly/m43Z50TQ84G

The year concluded with numerous lingering questions regarding the overall health of the office market. During 2023, the vacancy rate climbed 120 basis points to 16.9%, surpassing the prior peak of 16.3%. Read more in the 2023 U.S. Office Market Outlook: https://ow.ly/iTLZ50QFQ2e

Are you across the new era of office demand? The next instalment of our ‘future of office’ series breaks down how the emphasis on employee experience has driven the largest shift in occupier decision making over the last 12 to 24 months. Download our report to understand the new weightings being applied to the traditional office brief as well as the economic and demographic factors that will influence office demand into the future. Download the report here: https://lnkd.in/dXa8FVuX #AccelerateSuccess #TheFutureofOffice Cameron Williams Jock Gilchrist