News & Press
Colliers Reports Breathless Drop in Manhattan Office Leasing
Concern About Committing to Larger Spaces
Rob Gilman, co-head of the Real Estate Group at Anchin, tells GlobeSt.com that between employees still wanting to work remotely and a fear of a recession, companies with expiring leases are taking significantly less space than before.
“We have seen a reduction in space being leased on renewals while employees are still working remotely but the added concern of a recession has cut the renewal space even more,” he said.
“I see companies saying that if things turnaround they will take more space in future, even if not in same building. They are too concerned on current exposure to commit to larger spaces.”