COVID-19: OFFICE SPACE TRIBECA, NY.
The current pandemic we are experiencing all over the world may be unprecedented, but in trying times like this, we see the value of working together to make our offices, our communities, and the world a safe and better place to live in. Many industries, businesses, and leaders have adapted to the short-term impacts of COVID-19. This pandemic has significantly changed the way the real estate market works taking the biggest hits. In short, the demand drivers for office space are pointing to a negative outlook for some markets as tenants reassess their work-from-home models and office system to combat the spread of the virus.
In what ways has the pandemic affected the business?
COVID-19 is expected to cause a near-term pullback in new leasing and sales transactions through the rest of 2020.
Our business has experienced a significant change in the past seven months. On one hand, many leases that were on the verge of being signed were put on hold while our clients wait to see the longer-term impact of the pandemic on their operations. Fortunately, many of these transactions have only been delayed, not abandoned. We expect to see a substantial rebound for this portion of our business in 2021.
How can we help you with your future staff office requirements - contact us at no obligation (no fee)
