You may be asking Why Are Office Rents Still Rising? When office vacancy rates hit record highs and tenants return space in large numbers, you’d expect rental rates to drop. But today’s reality defies that logic. Despite unprecedented vacancies and stagnant demand, landlords are still raising office rents. In past real estate cycles, rising vacancies led to rent cuts as landlords competed for tenants. However, this time, even with more vacant space, leasing office space is more expensive than before the pandemic. A full recovery in demand isn’t expected until at least 2026, but rates continue to climb.
Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.
WCRE is a full-service CORFAC International brokerage, and advisory firm that provides a full range commercial real estate listings, services and property management services for landlords, owners, investors, tenants and more.
As experts in tri-state region, the WCRE team provides ongoing detailed information about commercial properties to our clients and prospects to help them achieve their commercial real estate goals.
