Last week was the Corenet Global State of the CRE market panel for Sydney with panellists Sarah Brown of CBRE and Dominic Brown of Cushman & Wakefield. It was a privilege to moderate the discussion on the Sydney office market and the trends affecting occupiers. The...
Read More
It was a pleasure to moderate the CoreNet Global State of the CRE Market panel in Brisbane last week with panellists Laura West of White Partners and Tom Broderick of CBRE. The focus was the Brisbane CBD office market and the trends that are (or...
Read More
The Property Council of Australia released the office vacancy figures last week. According to their figures, total National Office vacancy increased to 14.8%, CBD vacancy increased to 13.5% and non-CBD vacancy increased to 17.9%. Overall, the markets remain soft and it looks like this will...
Read More
Flight to quality has been the most commonly used term in the commercial real estate industry for quite some time. Flight to quality is about tenants upgrading office premises; moving to better quality buildings, from A to Premium, B to A and so on. To...
Read More
What is the difference between office space occupancy and office space utilisation? In essence one is used by the supply side of the office equation (Lessors), and the other is used by the demand side of the equation (Lessees). We look at “occupancy”. Here is an...
Read More
As the office markets turn and vacancy climbs, the better buildings slowly lease up and the lesser quality buildings struggle. Like clockwork the narrative turns to repurposing the buildings that are struggling to other uses. But is this real and is this the answer? Repurposing works when...
Read More
CRE tenants consider ESG in varying degrees when making new office decisions. The biggest tenants consider it more than the local small business for 2 main reasons; resources and the cost. The good thing is that it is not out of reach as the below shows. We...
Read More
High office vacancy rates around the world have everyone talking about what to do with older and more obsolete office buildings. Recently Carter Jonas (agency) reported that “close to 20% of UK offices are likely to be unlettable to the majority of occupiers with investment because...
Read More
At the onset of the pandemic predictions of massive office subleasing swirled throughout the office markets as many occupiers quickly contemplated putting a lot of sublease space on the market. Some did. In the back half of 2020, expert forecasts during the Corenet Global State of...
Read More
On Saturday night the local Greek hall held an event. The sound of the piano accordion reminded me of the theory we developed in San Francisco in the early 1990’s about how CRE tenants moved in and out of the Financial District (CBD) office market. When...
Read More