Allwork
MAY 10, 2024
Inventory in the U.S. office market is shrinking as the workforce moves towards flexible and multifunctional spaces. According to a recent report published by CoStar , nearly 9 million square feet of office space was removed from the national inventory in the first quarter of 2024 alone. The data, published by JLL , marks an historic high — surpassing the total new supply for the first time ever.
Allwork
MAY 10, 2024
While most large U.S. companies have been focused on downsizing the total square footage of the properties that it leases, Amazon is expanding. In Q1 2024, Amazon aggressively shifted gears and resumed leasing large industrial spaces across the U.S. According to a report published by BisNow , the e-commerce giant signed deals for six properties each over 1 million square feet in early 2024 alone.
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Allwork
MAY 10, 2024
Adam Neumann, the former CEO of WeWork, has not given up on his efforts to reclaim the company despite his $650 million bid being rejected last week. Speaking at the Bloomberg Tech Summit in San Francisco , Neumann expressed his determination to continue the bid process — criticizing the current restructuring plan as “definitely unfeasible” and based on overly optimistic performance benchmarks.
Allwork
MAY 10, 2024
Uber CEO Dara Khosrowshahi said during a recent earnings call that remote work has negatively impacted the company’s operations. According to a report published by The Street , Khosrowshahi pointed out that the pandemic caused a sharp decrease in regular commuters — which has severely affected Uber’s core customer base. However, with more employees returning to office settings, Uber is reportedly witnessing a resurgence in customer activity.
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Allwork
MAY 10, 2024
New data shows how Australia’s return to office efforts are impacting the nation’s high office occupancy rates — revealing success that is outpacing recent waves of RTO mandates in the United States. It’s a trend that also has many cities across Australia moving towards occupancy levels not seen since before the pandemic. The findings stem from a CBRE report, which analyzed office data within Australian cities like Perth and Adelaide revealing they are reaching near pre-COVID occ
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