While the Covid-19 pandemic is not over, many companies are focused on the future of their business and office space needs. Some are integrating work from home strategies and downsizing their space requirements. But other businesses are sticking with their past model and will continue to use the same amount of office space, or possibly more, as they did prior to the pandemic.
Across the industrial product types, levels of vacant space remain very low. This has allowed landlords to increase rental rates and decrease concessions over the past decade. What does the future hold for industrial space occupiers? It depends on product type.
While all leases are different, there are some things that a space occupier should always consider before signing that next lease. Our top five are below:
Before you make the decision to renew or relocation you want to make sure you understand all the options in your current lease. Leases can be complicated, so this would be an ideal time to engage the services of a tenant-only advisor.
The pandemic has permanently changed the way we do business, and as companies slowly bring employees back to the office there are many unanswered questions. Can your current space meet the needs the workforce is demanding in a post-covid world? If you are going to a hybrid work model – how does that affect the amount of space you require?
