‘Zombie Offices’ Spell Trouble for Some Banks - The New York Times
‘Zombie Offices’ Spell Trouble for Some Banks - The New York Times
Bank tremors serve as a reminder: Just because a crisis hasn’t hit immediately doesn’t mean commercial real estate pain isn’t coming.
This is the real reason for companies wanting people back to the office.
All this talk about collaboration and team spirit is just the publicly given reason for wanting people back to the office.
The real reason is that now the owners of the buildings are losing money.
Cry me a river.
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Meanwhile my company wants to double or even triple the amount of office space we lease in the next 2-3 years, but building management is quoting us prices that are even slightly higher than they were in 2020.
Prices only go up. If a price is allowed to fall then the gravy train stops and the owner class gets really salty.
Kinda sounds like the board of your company is full of real estate developers who still win if you guys go tits up.
No not really. We're already hybrid remote, our business is just growing. We're already hot desking but that will only get you so far. We currently rent 1 floor of a skyscraper, we want to also lease the completely empty floor above us but the prices are what they were when we signed our current lease a few years ago.