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Pandemic Brings Need to Pivot Quickly to Valley Market Featured

It’s a new world during this pandemic and nobody knows all the rules.

Big Idea 

  • Some businesses are shutting down their offices
  • Shutting business offices down saves on rent and utilities
  • Don’t forget the comfy office chair!
  • Employers predict that 27% of their full-time employees will continue working from home
  • Not a one-size fits all situation.

While many businesses are closing their offices and opting for work-from-home plans, Valley commercial real estate professionals are trying to stay flexible, since every company has different parameters for making choices. 

Many real estate experts think there could be a “market reset” post-pandemic, since not everyone will return to work at the same time. That could translate into lower rents.

According to the Phoenix Business Journal, Andrew Medley, managing director of JLL explained, “There is an abundance of sublease space on the market or coming to the market."

"A lot of my clients are realizing they don’t need quite as much space as they thought," Medley said.

 

Source: Phoenix Business News

 

 

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Last modified on Saturday, 01 August 2020 12:19
Published in AZbusiness.news
Lynne LaMaster

Lynne LaMaster is the Editor and Publisher of CopperState News. In her past life, she was the founder of a successful local news media publication in the Prescott area. She started CopperState News with the idea that local news deserves a statewide platform.

Besides prowling around for community news - especially good news! - Lynne and her husband Lewis enjoy their eight children and six grandchildren (although more are always welcome!). Lynne is connected non-stop to her camera and loves creating unique gifts with her Cricut!

One of her favorite sayings is, "It's not about me!"

CopperState.News

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