The new space is a reduction from the roughly 800,000 square feet that KPMG currently leases across three towers in Midtown. The firm plans to leave those buildings.
While coworking provides similar solutions to flex space, there are some key differences. Flex space challenges the idea of traditional commercial offices, which typically require signing long-term leases.
Availability was close to 31 million sq. ft. in August 2022, according to real estate data fir CoStar. The last time there was close to this much empty space, office values plunged, causing billions in commercial real estate loans to sour.
A full 50 percent of office visits globally were just once a week in the second quarter, up from 44 percent in the first quarter, according to data from Basking.io, a workplace-occupancy analytics company. At the same time, fewer people made the...
WeWork management has maintained that more customers are drawn to its flexible office space offering as they attempt to figure out long-term real estate strategies in a new world of hybrid and remote work. It now has 62,000 subscriptions to its...
The MTA may not regain 100 percent of pre-pandemic crowds across its entire system until about 2035. Yet, ridership on the weekend for the subway is around 70 percent of pre-pandemic levels.
Irving’s city council is set to vote Thursday on a package with a value of more than $30 million for the new Wells Fargo campus. The facility would serve as a regional hub for the San Francisco-based bank.
