{"id":621020,"date":"2023-03-23T09:49:00","date_gmt":"2023-03-23T14:49:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/23\/remote-work-is-starting-to-hit-office-rents\/"},"modified":"2023-03-23T09:49:00","modified_gmt":"2023-03-23T14:49:00","slug":"remote-work-is-starting-to-hit-office-rents","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/23\/remote-work-is-starting-to-hit-office-rents\/","title":{"rendered":"Remote work is starting to hit office rents"},"content":{"rendered":"<div id=\"main-content\">\n<div data-vars-content-id=\"b6a80eee-815f-4e26-978c-2e1f8a550845\" data-vars-headline=\"Remote work is starting to hit office rents\" data-vars-category=\"story\" data-vars-sub-category=\"story\">\n<div>\n<p><a data-cy=\"author-image-link\" data-vars-content-id=\"b6a80eee-815f-4e26-978c-2e1f8a550845\" data-vars-headline=\"Remote work is starting to hit office rents\" data-vars-category=\"story\" data-vars-sub-category=\"headshot\" data-vars-click-url=\"https:\/\/www.axios.com\/authors\/mphillips\" href=\"https:\/\/www.axios.com\/authors\/mphillips\"><img alt=\"Matt Phillips\" username=\"mphillips\"  src=\"http:\/\/www.axios.com\/_next\/image?url=https%3A%2F%2Fstatic.axios.com%2Fimg%2Fauthor-default.png&#038;w=320&#038;q=75\" width=\"40\" height=\"40\" decoding=\"async\" data-nimg=\"1\" loading=\"lazy\"><\/a><\/p>\n<\/div>\n<div>\n<div>\n<figure>\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"Data: CBRE Econometric Advisors; Moody's; Chart: Axios Visuals\" src=\"https:\/\/graphics.axios.com\/hermesv2\/2023-03-21-1225-change-in-office\/fallbacks\/2023-03-21-1225-change-in-office-fallback.png\" width=\"1204\" height=\"842\"><img loading=\"lazy\" decoding=\"async\" alt=\"Data: CBRE Econometric Advisors; Moody's; Chart: Axios Visuals\" src=\"https:\/\/graphics.axios.com\/hermesv2\/2023-03-21-1225-change-in-office\/fallbacks\/2023-03-21-1225-change-in-office-apple.png\" width=\"1131\" height=\"1332\"><\/p><figcaption>Data: CBRE Econometric Advisors; Moody&#8217;s; Chart: Axios Visuals<\/figcaption><\/figure>\n<\/div>\n<p>After a lag, the work-from-home revolution is finally starting to show up in the data for office building rental rates. <\/p>\n<p><strong>State of play:<\/strong> Major markets like San Francisco and Manhattan \u2014 where long <a data-vars-link-text=\"commute times\" data-vars-click-url=\"https:\/\/www.axios.com\/2023\/01\/24\/remote-work-saved-workers-72-minutes-per-day-study-finds\" data-vars-content-id=\"b6a80eee-815f-4e26-978c-2e1f8a550845\" data-vars-headline=\"Remote work is starting to hit office rents\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.axios.com\/2023\/01\/24\/remote-work-saved-workers-72-minutes-per-day-study-finds\" target=\"_self\" rel=\"noopener\">commute times<\/a> seem to be driving the durability of the WFH lifestyle \u2014 have been hit the hardest. <\/p>\n<ul>\n<li>On the other hand, markets like Raleigh, Boston and Minneapolis \u2014 which have a higher concentration of health services, biotech and life science employment \u2014 seem to be faring well. (It&#8217;s hard to do laboratory research from your home office.) <\/li>\n<\/ul>\n<p><strong>What we&#8217;re watching:<\/strong> Whether the issues in the office market worsen due to balance-sheet stress at regional banks.<\/p>\n<ul>\n<li>Small and midsized banks (those not among the top 25) currently hold 67.2% of all outstanding commercial real estate loans, <a data-vars-link-text=\"Axios recently reported\" data-vars-click-url=\"https:\/\/www.axios.com\/2023\/03\/21\/small-bank-struggles-could-hit-the-real-estate-market-hard\" data-vars-content-id=\"b6a80eee-815f-4e26-978c-2e1f8a550845\" data-vars-headline=\"Remote work is starting to hit office rents\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.axios.com\/2023\/03\/21\/small-bank-struggles-could-hit-the-real-estate-market-hard\" target=\"_self\" rel=\"noopener\">Axios recently reported<\/a>.  <\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h5>Go deeper<\/h5>\n<\/div>\n<p><a href=\"https:\/\/www.axios.com\/2023\/03\/22\/remote-work-wf-office-rents-decline\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Rubi Michaud<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Data: CBRE Econometric Advisors; Moody&#8217;s; Chart: Axios VisualsAfter a lag, the work-from-home revolution is finally starting to show up in the data for office building rental rates. State of play: Major markets like San Francisco and Manhattan \u2014 where long commute times seem to be driving the durability of the WFH lifestyle \u2014 have been<\/p>\n","protected":false},"author":1,"featured_media":621021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23836,1967,46],"tags":[],"class_list":{"0":"post-621020","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-remote","8":"category-starting","9":"category-technology"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/621020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=621020"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/621020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/621021"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=621020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=621020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=621020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}