The number of office buildings burdened with troubled loans, or already repossessed by lenders, jumped 36 percent in this year’s second quarter from the first, MSCI Real Assets reported.
66 search results for: Deloitte Abandons More London Office Space
SPOTLIGHT, TOP TREND 2023: OFFICE BUILDING BUST
The plunging number of people commuting five days a week to central offices could slash the value of office real estate by $800 billion in nine key cities by the end of this decade, according to an analysis by the McKinsey Global Institute.
SPOTLIGHT, TOP TREND 2023: OFFICE BUILDING BUST
Over the next 18 months, commercial real estate values will plunge by as much as 40 percent in Boston, Chicago, Los Angeles, New York City, San Francisco, and Washington DC, according to a new forecast from Capital Economics.
TOP TREND 2023: OFFICE BUILDING BUST, HSBC LATEST TO FLEE LONDON’S CANARY WHARF
HSBC, Europe’s largest bank, announced on 26 June it will leave its self-named Canary Wharf headquarters and move its 8,000 staff members to smaller digs in “The City,” the London district equivalent to New York’s Wall Street.
TOP TREND 2023, OFFICE BUILDING BUST: OREGON’S LARGEST CITY LOSING POPULATION
Portland, Oregon’s flagship city known for being clean and safe and for its hip vibe, watched its population swell by 23 percent during this century’s first two decades.
TOP TREND 2023, OFFICE BUILDING BUST: EMPTY OFFICES MULTIPLY IN SILICON VALLEY
As we had long noted, it was the Geeks who were the first to fight the COVID War by ordering their employees not to come to work because they would get/spread the virus. Now, the Silicon Valley bonanza that they created with the dawn of the Internet Revolution has turned to dusk.
TOP TREND 2023, OFFICE BUILDING BUST: INVESTORS BACK AWAY FROM DOWNTOWN PROJECTS
Remote workers have moved out of city centers. Now investors are following them.
Real estate trusts focused on investment in downtown areas are trading at less than half their pre-COVID levels, The Wall Street Journal reported. Lenders are demanding extra interest to make loans against office buildings; bonds to support New York City’s bus and subway system have a hard time finding buyers.
SPOTLIGHT, TOP TREND 2023: OFFICE BUILDING BUST
Office towers’ values are falling fastest in large, old-order urban centers such as New York City and San Francisco, Ann Walsh, Guggenheim Partners’ chief investment officer, told the FT.
TOP TREND 2023, OFFICE BUILDING BUST: PRICE OF HEDGING INTEREST RATES WALLOPS OFFICE LANDLORDS
The cost of hedging interest rates has become another blade slashing office landlords’ operating margins. For many, it may be the factor that forces them to sell or declare bankruptcy.
SPOTLIGHT: OFFICE BUILDING BUST
The U.S. average office occupancy rate dipped to 48.5 percent during the week of 9 April, according to Kastle Systems, which monitors entry-card usage among 2,600 businesses in 47 states.