Posts by John Jarvis

Office Leasing in 2024: The Tenant-Side Broker Imperative

John Jarvis on May 08, 2024

Make no mistake, when it comes to office buildings and office leasing in 2024, everything has changed, and it isn’t good news for most building owners. Strike one is flagging demand, as many or most companies are figuring out that they don’t need at least 20-30% of their current office footprint. Strike two is the surging office vacancy and availability, of course exacerbated by strike one. You don’t need an economics degree to figure out what happens when increasing supply runs into decreasing demand. That’s right, falling prices, as in office rents. And strike three is the higher interest rate environment the building owners now face as they stare down upcoming loan maturities.