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Distant work is beginning to hit workplace rents

Distant work is beginning to hit workplace rents

2023-03-22 14:55:44

Data: CBRE Econometric Advisors; Moody's; Chart: Axios Visuals
Knowledge: CBRE Econometric Advisors; Moody’s; Chart: Axios Visuals

After a lag, the work-from-home revolution is lastly beginning to present up within the information for workplace constructing rental charges.

State of play: Main markets like San Francisco and Manhattan — the place lengthy commute times appear to be driving the sturdiness of the WFH life-style — have been hit the toughest.

  • Alternatively, markets like Raleigh, Boston and Minneapolis — which have a better focus of well being companies, biotech and life science employment — appear to be faring nicely. (It is laborious to do laboratory analysis from your house workplace.)

What we’re watching: Whether or not the problems within the workplace market worsen as a result of balance-sheet stress at regional banks.

See Also

  • Small and midsized banks (these not among the many high 25) at present maintain 67.2% of all excellent business actual property loans, Axios recently reported.

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