CRE

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.

Other major accountants in the UK have also closed their London offices, citing that they were no longer needed due to hybrid and remote working.

In November of 2021, Sirius purchased Helix Investments for around $319 million, marking one of its largest expansions in the UK with the goal of “geographic diversification.”

The investment is anticipated to create 12,000 full-time positions this year, as well as help open its new Atlanta office and expand its Storey County, Nevada data center.

According to data from JLL, around 243 million square feet of office leases are expected to expire this year, which is a 40% increase from the levels seen in 2018.

Across the report, Research Drive offers insights into growth drivers, opportunities, roadblocks, and restraints that may impact the space-as-a-service market industry.

Convene’s first location outside of the U.S. will launch in London’s Financial District, in the impressive 22 Bishopsgate, in May this year.

While some of these landlords simply have taken a wait-and-see-approach, others realized the necessity of updating their interior and amenities in order to compete with Class A buildings.