For the first time in nearly two years, corporate occupiers across the nation are moving away from short-term tactical real estate leases centered on delivering cost savings in favor of a strategic, long-term approach to growth, according to a recent report from Jones Lang LaSalle.

Though not yet widespread, an increase in office space demand nationwide was recorded in the first quarter in certain market segments with particular concentrations of growth industries such as technology, energy and professional services, according to a statement.

"Companies in high-growth sectors are beginning to explore leasing options to accommodate increases in hiring, gain strategic access to new workers and improve the productivity of their workspace," said Stuart Hicks, CEO of Corporate Solutions at Jones Lang LaSalle. "While economic recovery is underway, corporate real estate executives are tasked with implementing strategies to support this growth while still aggressively managing cost and risk, all while developing workplaces that enhance productivity."

Report: More Long-Term Leases In Commercial R.E.’s Future

by Banker & Tradesman time to read: 1 min
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