The changing occupancy rates on buildings...
Office markets are usually measured by one of two metrics: occupancy rates or vacancy rates. Expressed in percentages, occupancy rates (usually the optimistic take) measures how full the building is; vacancy rates (usually the negative take) measures how vacant the building is. From a recent issue (2Q24) of
Buildings magazine, "'The perfect storm of higher costs and lower revenue will end up eliminating a third of the supply of office space,' predicts author Kurt Von Koch." Higher costs, lower revenue. Decreasing occupancy rates, increasing vacancy rates. As factors ebb and flow, buildings remain caught in limbo, and it's more important than ever to lower risk of ownership which helps to control costs. Salamanders can help to save money and lower risk for buildings going through both sides of the ebb and flow... reach out to find out how we can help!