The U.S. office market has shifted dramatically since the Covid-19 pandemic, including a surge in sublease inventory as companies dial back on their space needs or close down entire offices.found which markets, among 39, have seen the biggest gains in office sublease inventory since the Covid-19 pandemic.
"There's been a rapid increase, and a large amount combining with increased direct availability as well to really depress the market," he continued What's hard to predict is whether the sublease market will continue to grow, flatten or even decline in the coming quarters. In fact, many are Midwest or Sun Belt cities that had a relatively small amount of sublease space before the pandemic, making the increase in the past three years more notable. Nearly all of the 30 markets included inAmong the 39 markets analyzed, New York has the most sublease space on the market, or 29.2 million square feet as of Q3 2022. That's a 67% increase since Q3 2019.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Francisco nonprofit developer HomeRise appoints Interim CEO, CFO - San Francisco Business TimesHomeRise, formerly Community Housing Partnership, oversees a portfolio of roughly 1,600 units in San Francisco and the Bay Area.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Office markets with biggest gains in sublease space, ranked - San Francisco Business TimesAlthough the analysis doesn't include every U.S. market, it provides a snapshot into how geographically disparate growth in sublease inventory is — and that no city is immune to company decisions to downsize or entirely exit office spaces.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Oracle lists Pleasanton for sublease - San Francisco Business TimesThe software company said last spring that 20% of its global real estate portfolio had either been sublet or was actively being marketed for sale or sublease.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Rezo Therapeutics, Prosper Marketplace score $75M venture rounds - San Francisco Business TimesThe Thanksgiving holiday didn't stop a drug developer and an online lender from each raising a large new round.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Nkarta CEO Paul Hastings: Diversity wins in midterms - San Francisco Business TimesThe CEO of Nkarta, a South S.F. biotech, weighs in on an LGBTQ+ wave and what it means for business.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Startup Mahzi Therapeutics targets autism, epilepsy related rare genetic brain disorders - San Francisco Business TimesThe 10-employee company, including veterans of rare disease drug developer Ultragenyx Pharmaceutical, has gathered $47.3 million.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »