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Renovated Offices Have Driven Past Recoveries - Wolf Commercial Real Estate
Summary by Wolf Commercial Real Estate | South Jersey | Philadelphia PA
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Renovated Offices Have Driven Past Recoveries - Wolf Commercial Real Estate
The U.S. office sector is poised for recovery, driven by rising demand and a shrinking construction pipeline. Historically, renovated office buildings perform well during the early stages of an economic recovery. However, several factors could limit property owners’ ability to capitalize on this trend. After the Great Recession, newly renovated buildings saw strong occupancy gains, with net absorption rising by an average of 4.8% from 2013 to 20…
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