Thank you for sharing!

Your article was successfully shared with the contacts you provided.

As the omicron variant continues to threaten a return to pre-COVID normalcy, many office tenants are questioning whether the market is continuing to soften. On the hunt for advantageous deals, occupiers are pondering renegotiating existing leases or reducing their footprint to remain competitive in a tight labor market. 

But while the market has slowly softened… extreme deals for occupiers are rare,”  says Kirsty Cameron of Savills in a new report. “The reason for this is while most office employees have worked from home throughout the pandemic, many companies continued to pay for their office space. Availability increased throughout the pandemic as occupiers who had leases up for renewal or chose to sublease their office space. For landlords to maintain financial and operational sustainability, their strategic response to the pandemic has been and continues to focus on increasing concession packages and deploying other occupier benefits before dropping rental rates.”


GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.