Retail depends on data. But without deep knowledge of how to apply it, it’s just wasted data. That’s true for any business decision you make. We believe it’s true for any real estate decision you make, too.
In light of the significant impact that the COVID-19 pandemic has had on so many across the world, Cresa Cares has donated $100,000 to relief efforts. We feel fortunate to be able to assist the following organizations in continuing the amazing work they are doing.
In Q2 2020, as the COVID-19 pandemic has been relatively well controlled in Beijing, tenants became increasingly active compared to Q1. However, due to the city’s high vacancy rate, tenants’ tight budget control, and the upcoming supply peak, many landlords kept lowering rents and being flexible in negotiations.
Some workers are going back to their offices. Others will be home — maybe permanently. Either way, the Covid-19 pandemic could be a turning point in the region’s office space market.
Despite a very uncertain economic backdrop, quarter-end market statistics showed very little change for Metro Vancouver's office and industrial leasing markets - relative to three months earlier. Vacancy and availability rates drifted slightly higher with an elevated degree of uncertainty permeating leasing markets across the region.
Perhaps now more than ever, there is an opportunity for businesses to approach their real estate differently. Now is a time to think beyond space, to plan for and implement a workplace strategy to enable greater office flexibility while optimizing workforce efficiencies.