The Tale of Two Citing's

The Tale of Two Citing's

David Pennetta SIOR, CIBS, LEED GA David Pennetta SIOR, CIBS, LEED GA

David Pennetta SIOR, CIBS, LEED GA

$100 million in transactions 2023. Executive Managing Director @ Cushman & Wakefield | Unlocking opportunities, maximizing returns, helping clients and customers as a trusted corporate real estate partner.

发布日期: 2024年1月9日
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#1 Good News- We are at the second highest quarter for leasing activity over the past ten years up 38.7%. Rental rates continue to hold with only a $0.07 PSF reduction in asking prices.

2# Bad News- New leases were smaller square footage than old leases with vacancy rates increasing by 60 basis points from last quarter. YTD net absorption was negative by 30,000 SF. Most leases were less than 20,000 SF in size.

In 2024 with the promise of reduced interest rates, robust stock market and a chance to return to normalcy in our political arena we should see an expanding of office leasing activities and more companies preparing for increased profitability going forward.

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