Office rental trends predicted to change dramatically
Despite office space prices remaining high throughout the US, there is an excess of vacant office property amounting to $5.5 trillion, according to corporate space expert John Vivadelli, who also notes that less than 40% of office space is being used at any given time in the US and Europe. Due to the increasing flexibility of corporate work forces, with many employees working in multiple locations, Vivadelli predicts a trend of employers seeking more flexible and short-term office rental agreements and the increased popularity of platforms such as WeWork, which organises shared office spaces.

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If you think office space is at a premium because of the recovery, you’re wrong.

While some office space may be going for premium prices, there’s a $5.5 trillion dollar “market” of unused space in America. And the spectre of that space is quietly changing the way office space is viewed — by landlords as well as occupants.