Podcast: FTI Expert’s Hub: The Ins and Outs of the Bifurcated Office Market
Glenn Brill Provides His Outlook For The Office Market
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March 04, 2024
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Office is heading for a slow recovery, and 2024 is said to be the transition period that will finally bring the industry closer to the post-pandemic norm. The latest office report from Commercial Edge shows that the nation’s vacancy rate will continue to rise in 2023, with Class B and C properties particularly struggling. To date, well-designed, high-quality facilities in good locations remain in high demand.
A few structural trends are dividing the market. Commercial Property Executive (CPE) asked industry veteran Glenn Brill, Managing Director at FTI Consulting, to share his insights on the first episode of this year’s FTI Experts’ Hub quarterly podcast series. In conversation with CPE’s Senior Editor Laura Calugar, Glenn discusses the trends he sees in the market and how they might evolve.
Time Breakdown on Main Topics Covered:
- The growing divide between prime office and the rest (0:47)
- The flight-to-quality trend (4:06)
- How much will outdated office space weigh on the market? (6:27)
- Proptech’s role in reshaping real estate and bringing back to life obsolete properties (7:20)
- Is a full return to the office possible down the road? (10:51)
- The impact of remote work on the office market (12:41)
- What type of companies are using offices today (15:13)
- Smaller occupiers and coworking (16:46)
- Large occupiers/corporations and coworking (18:24)
- What do occupiers want in terms of leases? (20:16)
- Company relocations (22:05)
- Who will be the winners and losers in the medium- to long-term? (24:01)
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Published
March 04, 2024
Key Contacts
Managing Director