Wednesday, October 14th, 2020
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The amount of sublease space on the market has been growing since the pandemic began.
In a recent report, CBRE said direct leasing activity in the second quarter of 2020 declined 85% compared to the same quarter in 2019.
“That is a dramatic number,” says Withers Attorney Steve Wilson. “It doesn’t address subleases, but it really does show the chilling effect that everything going on has had on the market.”
With so much subleased space on the market, Wilson thinks office landlords will be forced to lower their pricing and find other ways to compete.
“I was talking to a landlord, and he was mentioning that he was starting to do short-term leases, which you wouldn’t have seen a lot before this [COVID],” Withers attorney Vasi Yiannoulis-Riva says. “But people are adjusting. They’re trying to ride this pandemic out and see what happens a couple of years down the line.
Like nature’s clockwork, different pests show up to plague us in different seasons. In the summer, mosquitoes, ants, and hornets buzz, swarm, and creep around your property (and sometimes your head). And then, just as you’re preparing for the coming chill of fall, there’s a whole new crop of bugs to contend with, all of them eager to invade your home.
With the autumn season in full swing, it’s important to protect your home and garden and let pests know to stay in their lane.… Read More