With the economic pressures and uncertainly brought on bycoronavirus, corporations are looking for lease term flexibilityand more agile office solutions.

Commercial leases are getting shorter.

In the US, the average office lease term fell 15% inthe first five months of 2020 to seven years, according to JLL—andit's likely to fall further. To put this into perspective. In HongKong and the UK, an average office lease lasts three years and sixyears, respectively.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.