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Nearly three years since the start of the pandemic, the state of the office market is continuing to reveal itself. The suburbs appear to be faring better than urban markets.
Jenny West has joined Cresa as a vice president of workplace solutions & project management. In this national role, she will be responsible for driving growth across these service lines, and leading vision and strategy to maximize tangible impact while strengthening operational excellence and integration of best practices across the U.S.
When it comes to office space, Doral is amongst the softest markets while at the other end of the spectrum, Brickell, Coconut Grove and Aventura remain really high, said Robert Orban, principal for Cresa Miami, an occupier-only commercial real estate firm.
Cresa has negotiated an 18,476-square-foot office lease at One Madison Avenue in Midtown Manhattan.
A California-based medical apparel and footwear firm is locating a huge new shipping hub in Southern Dallas.
In the final quarter of 2022, the Edmonton office market continued to experience vacancy pressure as total vacancy increased slightly to 19.66 percent, which is an increase of half a percent from the previous quarter. Net absorption for Q4 calculated at approximately negative 160,000 square feet for the greater Edmonton area.