Author: Hughes Marino
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The Office Market Has Bottomed Out
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The office market has normalized, and both tenants and landlords can now look ahead to see what the future holds. In most office markets, the majority of pre-2020 leases have expired, whereby tenants have been able to resize and reset their footprint to their new hybrid and remote specifications. While there are still some large
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After two years of record low vacancy and 10% to 20% annual rent inflation for industrial properties around the country, it looks like the market is finally coming in to balance. Rumblings of recession and slower consumer demand have already caused some corporate tenants to put a pause on expansion requirements and slow down their demand for industrial space going…
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I’m a corporate real estate broker with award-winning real estate advisory firm, Hughes Marino. We help business leaders make great real estate decisions for their growing teams. I’m also an artist, which, as it turns out, informs my approach to leading high value projects for my clients. You see, when I create art, I always break it down into four…
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Who would’ve thought that two and a half years after March 2020 that COVID-19 would still be challenging how and where Corporate America gets its work done? In many major cities across the United States, employers are still grappling with what remote working and hybrid mean to them, and many companies continue to put excess office space up for sublease…
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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…