Foreclosures and short sales have become quite prevalent in the market as many owners have not been able to overcome higher interest rates combined with lower occupancy and lower demand. While there continues to be a trend toward more time in the office for employees, it is likely to be too little to late for many buildings. This should result in “repricing” of buildings and provide opportunities for more favorable lease terms for tenants, but it will be a slow process spanning the next 2 to 3 years. Continue reading
2024 Mid-Year Office Update
