2024 Key Takeaways:
Leasing Boost – Post-pandemic leasing high in Q4 2024 sustains leasing volumes.
Space Crunch – More availability, but Grade A offices in prime spots are scarce. Competition is heating up.
Rents Rising – 15% growth in 5 years, and landlords are tightening rent-free incentives. Time to negotiate hard.
Spotlight on serviced – the flexible office landscape is entering a new phase of transformation.
Mega & mid-sized – transactions over 50,000 sq ft returned in greater volume in the second half of 2024 including 8 mega deals.
Outlook 2025:
RTO Reset – More firms will mandate in-office attendance, driving demand for collaborative spaces and upgraded amenities.
Offices as Cultural Hubs – Workspaces will be key to DEI, wellbeing, and engagement, shaping company identity.
AI Integration – Rise in AI investment and implementation is set to reshape office requirements and workforce dynamics.
Rents Keep Climbing – Prime space demand will push rents higher, with landlords scaling back incentives.
Flex Goes Long-Term – Serviced and managed offices will become a more go-to strategy, not just a short-term fix.
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