Commercial
With fewer â and sometimes no â employees working from the office for what has turned into a period of months, local business owners and managers began to look at the bottom line and wonder if they needed as much space as they had. Many have decided they donât, and the result is that they have condensed operations into less space and have looked at subleasing the remaining space.
The CBRE|Hubbell Commercial Marketview Snapshot for the fourth quarter 2020 tells the story: More commercial real estate space is now available for subleasing. More commercial space is on the market largely due to the âsurges in new supply from user-driven reductions of existing office occupancy just prior to the pandemic,â according to the report.