Lawyers On Demand’s Post

Great summary of today's office market.

There is a reckoning coming for those office and even industrial property stakeholders that don't start retrofitting for what's coming. Not only are occupiers going to demand better, and will be willing to pay for it, the space needs to operate to the energy efficiency demands of what's coming for net-zero and to comply with the demands of local juridictions. Soon, tenants are not going to want to sign leases in buildings that don't meet certain energy efficiency standards. Workplace Wellness (natural light, air quality, flexible office construction) built-in and productivity enhancing spaces that inspire tomorrows workforce will be returning the best cap rates!

The #office market is clearly evolving, but it’s not simply due to changing demand. The other key component of this evolution is the changing dynamic of what office tenants value and prioritize today – which is quality.      #Vacancies across the office market are heavily concentrated in lower quality products. The high-quality, modern office inventory – like Brookfield’s Manhattan West – is commanding higher rents than ever before. In fact, we’re seeing more blue-chip tenants and the highest rents we’ve achieved across our new developments on a global basis.      The bifurcation of office is real, and the video explains this split and what we see ahead for office #realestate. 🏦

Miami Q4 2023 Office Market Insights: Discover how the growing demand for Class A office space and the arrival of new-to-market firms are shaping Miami's office market. Our latest report offers a comprehensive look at these trends. Reach out to discuss what this means for your business and how we can adapt together in this evolving landscape. #MiamiOfficeMarket #StrategicGrowth #RealEstateInvestment #newmark

Organised offices are the cornerstone of a focused workforce, and we understand the importance of creating tidy, streamlined environments that inspire success. Read below to explore five innovative storage ideas to transform your office space: https://bit.ly/3uJvq6f 📚

60 Minutes highlights the challenges and opportunities in the office market.

Unshackle from the mundane office scene! At Plus Offices, witness businesses bloom, ideas blossom, and connections flourish. Experience #ThePlusFactor and elevate workspace beyond ordinary. #PlusOffices2024 #plusofficesingurugram #coworkingingurugram

Gone are the days of solitary workstations. ❌ Shared office spaces are quickly emerging as a favorable choice amongst freelancers, entrepreneurs, small teams, start-up businesses, and large corporations alike, serving as a beacon of collaboration and resource optimization. 👉 Benefits include enhanced collaboration and productivity, improved company culture, and lower operational costs to name a few. In our recent blog, Lisa Hewston, Senior Manager, Placemaking and Bayview Experience at Invest Ottawa and Bayview Yards dives into the advantages of collaborative office spaces: https://bit.ly/3Ww5CpN

As the office space market undergoes shifts, R&R Realty Group is charting an exciting path forward. We're not just adapting; we're embracing innovation to enhance office culture, placing a renewed focus on community, connection, and collaboration. Join Adam Kaduce, SIOR, President of R&R Real Estate Advisors, as he delves deeper into how R&R Realty Group is reshaping the office landscape with precision and purpose. Read the full article here: https://ow.ly/y4vU50RbubE

Los Angeles is leading the charge in office utilization, with a busyness rate of 63%, outpacing major metropolitan markets like San Francisco and Philadelphia. Avison Young’s “Office Busyness Index” tracks these trends using anonymized mobility data, offering a unique perspective on the return to office life. Since 2021, LA's office activity has grown by 12% annually, and if this trend continues, we could see 95% of pre-COVID levels within 40 months. As companies like Ubisoft, IBM, Meta, and Rockstar enforce return-to-office mandates, the shift back to the office is accelerating. Read more in our latest #SoCal Data Insight. #CRE #commercialrealestate #southerncalifornia