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In recent times, the commercial real estate market has witnessed a significant shift in the dynamics of subleasing vacancies. According to JLL, sublease vacancy rates have continued to decrease, falling to 4.1 percent in the third quarter, marking a decline of 28 basis points quarter-over-quarter, particularly in Manhattan. But what's driving this trend, and why is it so noteworthy?
Commercial real estate leasing tends to have a uniquely long sales cycle. Seeing a transaction with one tenant can take more than 12 months. Due to these circumstances and the state of competition in markets, it’s fundamental for leasing teams to focus on a full-funnel approach to leasing and marketing strategies.
Big tech companies have flipped the switch; they are now pushing for their employees to return to the office. The move towards a more office-centric approach aims to boost engagement and productivity - which firms have recently shared was a drawback associated with a fully remote work setup. The physical workspace offers an environment conducive to creativity and focus, contributing positively to the quality of work produced.
Asset managers know the fastest way to create value for a building is to meaningfully reduce vacancy. It’s a process that can take years. In today’s market, many don’t have the luxury of waiting that long.
As a Broker in commercial real estate, there are a lot of pain points that come with leasing space in any market or sector. Staying relevant and keeping up with the competition, having the tools necessary to win deals, and leasing space at the highest rate possible are all struggles that brokers face. Uncover how RealtyAds helps solve these struggles and why Brokers leverage RealtyAds to find, advance, and close more deals.
In commercial real estate (CRE), measuring success is critical to determine the effectiveness of marketing and leasing efforts. However, the industry has been misguided by one metric in particular. Clicks. Using clicks or click rate as a key performance indicator (KPI) is not always the most effective way to evaluate the success of your marketing strategies. The click metric lacks a genuine impact on the leasing process due to a lack of qualified information, cost-per-click, and relevance.