How to Fill an Office Today? Waive the Rent
The demand for office space is not as good as the headlines suggest and landlords need to offer sweeteners to get companies to move in.
Rent an apartment and you can only dream of getting up to a fifth of your tenancy rent-free.
This is what it can take to fill some offices today.
Headline rents for good-quality offices were surprisingly stable during the pandemic. In London, rents for the best, centrally located properties are 1.3% ahead of 2019 levels, according to commercial real-estate consulting firm Carter Jonas. In New York, rents are up 5.7%, data from property-analytics company CompStak shows.