Office

Prices sank for CBD offices but the main office index increased owing mostly to suburban price upticks.

Reduced office demand and a dearth of apartment supply could create an opportunity to convert office space into apartments.

In these larger buildings, Cetra says developers and architects need to be very creative with things like home offices.

A recent JLL report found 30% of all office space will be consumed flexibly by 2030, as a result of flexible lease terms and uncertainty caused by the pandemic.

April 2021 investment activity was 18% below pre-pandemic numbers.

Since January, demand for office space is up 117.9% nationally.

But asking rents remain firm and the rate at which new sublease space is coming to market appears to be slowing.

Savills has hired Michael Fisher and Robert Teachey to oversee business development, transaction management and tenant representation.