Author: Hughes Marino
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The Office Market Begins Searching for a Bottom
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After three years of spiking office space availability rates, 2024 was the first year where the U.S. office market began searching for a bottom. Most metro markets did not see office availability rates materially rise or fall over the last year, which is good news for owners, suggesting that the markets might be stabilizing. There…
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Looking back at how the national commercial office markets were first impacted by COVID in 2020, availability rates in all US markets spiked—generally by 20% to 40%, but as high as 44% in New York City, 57% in Seattle and doubling in San Francisco. After this initial shock, 2021 became a year of sorting out, where many companies hit pause…
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As all businesses have experienced first-hand, the past two years have been a rollercoaster for companies across the country and around the world, maneuvering between new COVID variants and hybrid work strategies, all while trying to keep their doors open and business afloat. The 2021 year played out to be one of sorting it out, and as we head into…
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At Hughes Marino, we believe office design and company culture truly work hand in hand to inspire teams, and have the ability to positively impact businesses in many ways. Our Planning + Design team works to shape the perfect functioning workspace for clients’ teams in order to enhance space and productivity, and plays a major part in helping companies adapt…
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COVID-19 had the most dramatic effect on increasing office availability rates in 2020 than any time since the 2000 Tech Wreck. While the Tech Wreck availability uptick was related to a collapse of the financial markets and the tech sector generally, whereby hundreds of millions of square feet of office space across the country came back to market through tenant…
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In the first line of the Building Owners and Managers Association (BOMA) website, they lay it out loud and clear for all to see—“BOMA International’s advocacy team is hard at work continuing to positively impact the commercial real estate industry and protect our members’ livelihood.” And this time, with the latest change to the commercial building measurement standards, they are…
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While the San Francisco Bay Area is the technology hotbed famous enough to spawn an HBO sitcom (Silicon Valley), serious attention should also be paid to Los Angeles’ conglomeration of start-up incubators and accelerators. Located in the Westside region of L.A., “Silicon Beach” is home to more than 500 high-tech companies.