CRE

The tech giant will take up a newly built campus — the Mathilda Commons office complex — that includes two four-story buildings totaling 382,500 square feet. 

Six out of the 10 markets surveyed saw decreased office occupancy, suggesting that it’s not just the biggest metropolitans suffering from low attendance rates.

According to Stefan Weiss, hybrid employees will cut their office time by an average of around 24% and work remotely an average of 1.6 days a week.

There are two mixed-use approaches that could help both sectors: high rises in major business districts, and horizontal developments in suburban areas.

The deal, which is expected to be completed in July of 2022, is 94% higher than Bizspace’s valuation when Sirius purchased the firm last November.

The Circularity Accelerator will release a ‘state of the market’ report that focuses on identifying challenges and opportunities for built environments.

Despite office usage seeing a decent rebound, the analysis notes that vacancies in major cities like New York City and San Francisco are still climbing up.

As companies shift to more hybrid models for workers, the survey showed that 39% of the 185 respondents were expected to expand their office presence.

“Reimagining, Reinventing and Redefining Real Estate 2030” claims that the Grade A office market will grow to over 1 billion square feet by 2026.

“There is no reason why a company needs to take the same amount of space if people are coming in fewer days per week,” said Rob Gilman.