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Like the weather, space demand has heated up, contributing to tightening leasing conditions in many segments of the market. Companies in growth industries, such as high tech, leased additional space to accommodate expanding head counts. Other occupiers recognized that negotiating leverage was starting to slip away and locked up favorable lease terms for the future.
Corporate real estate decisions are now driven by the need to stay nimble in a rapidly changing market. The global financial crisis put a spotlight on flexibility and workplace mobility as necessary tools to achieve cost savings, shed surplus space and increase occupancy rates. Now as the market adjusts to the new normal, flexibility and workplace mobility are permanently on the agenda.