Daniel Shapiro Tenant Broker

In his week’s blog, we present an article written by Todd Stevens with Cresa that was featured in BizJournals.com.  It explores how much office space is really needed for your company and provides some information on the blueprint we can help you work through as you examine your office space footprint.  Cresa  is one of the world's only global commercial real estate advisory firm that exclusively represents occupiers and specializes in the delivery of fully integrated real estate solutions. Cresa's services include transaction management, workplace solutions, project management, consulting, lease administration, technology, investment banking and capital markets and portfolio solutions. If you would like to start a conversation on how I can help you evaluate your office space, let’s start a conversation.   You can contact me directly at www.tenant-broker.com . A remote workforce is the new norm – how much office space do you really need? Todd Stevens ...

At Cresa, we are seeing a steady return to the office, even with new COVID-19 variants appearing.  We feature this Bisnow article by Jared Schenke that presents data showing that office occupancy is now at an all-time high since the start of the pandemic.  Some highlights: -           Average office building occupancy across the 10 largest office markets rose to 40.6% on Dec. 1, 8.1% higher than the post-holiday week last year, according to Kastle Systems, which tracks electronic keycard, fob and building access data. -           The average office occupancy in Kastle's 10-city barometer has been steadily increasing since September, when 33.6% of employees were back in the office. The legal industry has led the way in returning to the office, with law firms on average 56.3% occupied nationally. -         ...

This week, we're featuring a recent article from our very own Todd Stevens. Todd highlights the impact a permanently remote workforce can have on the need for office space. He asks some hard-hitting questions used to help define the workspace a client needs or could use as the office space landscape is changed by the pandemic.  A remote workforce is the new norm – how much office space do you really need? By Todd Stevens - Cresa November 9, 2021 The pandemic has forced many businesses to adopt new methods of work. Virtual meetings and remote work, while not entirely new, have become commonplace and most people would agree are here to stay. The Zoom fatigue that so many of us were feeling a year ago when every meeting was virtual has been replaced with video conference technology, now seen as a tool to work more efficiently. And the ability to work from somewhere other than your office while still staying connected has caused many executives to reevaluate their space utilization. Th...

Here’s a recent Bisnow article with some positive news for the commercial office market in 2022.  Dees Stribling with Bisnow International shares some predictions from the NAIOP Research Foundation indicating that workers will return to office in great numbers in 2022 and 2023.  Other highlights: Total net office absorption nationwide next year will be 53.5M SF, with a quarterly average of 13.4M SF, the organization predicts. A factor in future office absorption will be informal pressure to return to the office, especially in highly competitive businesses. Thus the forecast depends on continued economic growth, which NAIOP calls plausible, given recent data. GDP continued to grow at an annualized rate of 2% in Q3 after an annualized surge of 6.7% in Q2, and unemployment is dropping from coronavirus pandemic highs. As we near the end of 2021, now may be the time to discuss how Cresa can help you prepare your commercial real estate strategy for the upcoming years.   C...