US Commercial Property Update San Francisco the poster child for the donut effect With downtowns generally suffering most from the growth in remote work, the hardest-hit cities such as San Francisco are now seeing this impact other revenue streams too, not least tourism. While... 2nd May 2024 · 4 mins read
US Commercial Property Update Share of remote work key to global office performance The wide divergence in global office market performance to-date has been driven by significant differences in the return to office and the impact that has had on occupiers’ leasing decisions. US... 29th April 2024 · 5 mins read
US Commercial Property Update Permanent online shift is mixed news for retail The latest e-commerce statistics suggest that the pandemic has left US online sales on a permanently higher trend. That will be bad news for retail rents generally, though the detailed data also hint... 23rd April 2024 · 4 mins read
US Commercial Property Update Nashville, Jacksonville and Austin top for remote workers Our updated remote worker preference scores again highlight Nashville as the most attractive metro for remote workers, while San Jose is the least attractive. The winners continue to be predominantly... 13th March 2024 · 5 mins read
US Commercial Property Update Why have office delinquencies not hit GFC-era highs? The resilience of the US economy in this cycle means the rise in distressed assets has been much slower than in the GFC-era recession, as relatively few firms have gone bust. But the structural... 29th February 2024 · 4 mins read
US Commercial Property Update Flexible offices unlikely to capitalise on hybrid working IWG’s record revenues in the first half of this year may suggest that flexible offices are the answer for many firms as hybrid working cements itself as the ‘new normal’. However, we don’t think... 4th October 2023 · 5 mins read
Europe Commercial Property Update Flex office woes not systemic, but concerns remain The problems of WeWork, which have intensified in recent months, do not look reflective of significant distress in the wider flexible office market. However, flex has yet to see much of a boost from... 19th September 2023 · 3 mins read
US Commercial Property Update Uncovering the factors impacting downtown recoveries Data on cell phone usage suggest that cities with a high share of professional, scientific and technical occupations and long commute times are typically associated with poorer downtown recoveries... 12th September 2023 · 3 mins read
UK Housing Market Update Pandemic trends are approaching their end The adoption of remote work meant central London was left out of the COVID-19 house price boom. But with house prices in outlying towns and rural areas around the capital starting to stagnate too... 5th September 2023 · 4 mins read
US Commercial Property Update How remote work could impact US city revenues On the back of the remote work revolution, US downtowns have seen reduced office-led footfall and rising crime rates. Cities will need to be proactive to drive conversion to alternative use and to... 15th August 2023 · 4 mins read
US Commercial Property Update Is there real evidence of an office 'flight to quality'? The data show a small, but limited, divergence in performance between overall class A and classes B and C office space. But that differential appears to have been driven by newly-built " trophy" space... 9th August 2023 · 3 mins read
Europe Commercial Property Update Pandemic impacts on physical office occupancy The pandemic-induced shift towards homeworking caused a sharp fall in physical office occupancy rates. They have since recovered significantly but remain below pre-pandemic levels. And while lower... 6th July 2023 · 3 mins read
US Commercial Property Update Office values unlikely to regain their peaks even by 2040 The reduction in office demand due to remote work will cause a hit to net operating incomes on a par with, or worse than, that experienced by malls over the last six years. And in line with the... 22nd June 2023 · 4 mins read
Europe Commercial Property Update Will there be a reckoning for European offices? The latest MSCI data indicate that values in western European office markets have held up better since the start of the pandemic when compared with the US and UK. But given these cities face similar... 16th June 2023 · 4 mins read
Europe Commercial Property Update How have our homeworking assumptions fared? In our Focus of September 2020, we made some assumptions about how the pandemic would impact working from home in office-based sectors across Europe. Almost three years on, we look back at these to... 15th June 2023 · 4 mins read
UK Commercial Property Update Will less generous online returns help retail property? Recent economic difficulties have forced online retail to tighten their returns policies. At face value, this seems good news for retail property as it may shift demand back to stores for certain... 8th June 2023 · 3 mins read
