Followers know we have been fascinated with the long term changes and effects from the lock down….
Virtual is the new Normal – Heck we have Zoom, Teams, GoToMeeting just to name a few, that we use constantly…
The following graphic is from our buds at Visual Capitalist – Note comments from the article after…
This from the article- with our highlights for emphasis
1 Billion Square Feet of Empty Office Space
In April, one of America’s largest office owners, Brookfield, defaulted on a $161 million loan.
The loan, covering 12 office buildings, was mainly concentrated in the Washington, D.C. market. Faced with low occupancy rates, it joined other office giants Blackstone and WeWork defaulting on office debt this year.
The above graphic shows nearly 1 billion square feet of empty office space in the U.S. based on data from JLL—and the wider implications of office towers standing empty.
Ranking U.S. Cities by Empty Office Space
At the end of the first quarter of 2023, a record 963 million square feet of office space was unoccupied in America. An estimated five to 10 office towers are at risk of defaulting each month according to Manus Clancy, senior managing director at Trepp.
And one of our all time favorite trackers, Kastle
Have a Great “Office Space Updated” Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth