According to a report from the real estate firm CBRE, commercial leases right now are only 2% behind the five-year monthly average. Availability of units, however, is still high at over 19%.
Another report from VTS, a real estate data platform, measured how many people are looking into available space. The report shows a 15% decline with a demand of 68% of its pre-pandemic pace.
John Maher, Vice Chairman of CBRE, joins “News All Day,” to discuss the CBRE report and its mixed news for the market.
CBRE is the world’s largest commercial real estate firm, with an enormous presence in the city.