#office-vacancy

#office-vacancy

The traditional five-day commute into a central office hub is no longer the default for millions of UK workers. That change gives people more freedom. But it also creates a deep problem for commercial property owners and the city itself. Empty floors, shrinking tenancies and new demands for flexibility force companies to rethink their physical space. This piece explains how a lasting shift to hybrid schedules is remaking London's business map, pushing office conversions, and building a new market around short-term and on-demand services.

YES: Recent actions by Irvine Company indicate that it has concluded that its resources are better deployed in locations outside of downtown. It continues to invest in other areas such as University City. The high downtown office vacancy rate, the sales price for the property on Broadway the Irvine Company just sold and the struggling Campus at Horton project are all good reasons to have a pessimistic view of downtown commercial real estate.