Posts by Hughes Marino

How Tenants Can Capitalize on the Office Market Meltdown

on May 01, 2023

After more than two years of confusion, delusion and information suppression, the real estate industry seems to finally agree that the office sector in all major metro areas is in freefall. Three years of remote working, and the widespread adoption of hybrid work models, has resulted in most companies getting smaller as their leases expire, causing availability rate spikes that we haven’t seen in over 20 years. Add to that over 250,000,000 ft.² of office space on the market for sublease across the U.S—2 1/2 times normal equilibrium—plus ongoing widespread layoffs across the tech sector, it’s evident the office sector is near collapse. The extent of the damage done to the office sector over the last three years is shown by the following graph comparing pre-Covid 19 conditions to present.

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Hughes Marino

Hughes Marino