How hybrid work has changed the real estate market for both offices and apartments

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How cool is this: TREO Apartments in Cleveland, constructed after the pandemic, feature a special work-at-home space in all 170 units.

, building owners continue to find many ways to attract potential businesses.

For example, the Oswald Center on Superior Avenue in downtown Cleveland is now more willing to sign short-term lease agreements, give tenants more rights to expand and add to improvement allowances to help businesses build out their space, said Cyndie O’Bryon, an office broker and first vice president of Colliers International.

“They’ll limit the amount of swipes that you have to get in that garage. So, if you’re a building or garage owner and you’re tight on parking, a way around that is to just limit the swipes, because if you have 40 people that are coming into the office three days a week, does everyone need a parking pass?” he said.

 

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