Companies have largely adapted to the realities of hybrid work patterns, with 64% of organizations reporting that they have reached a steady state with their office utilization, up from 43% in 2022, according to CBRE’s 2024 Americas Office Occupier Sentiment Survey.
At the same time, vacancy rates in the U.S. office sector hit a record of 20.1% in the second quarter, breaking the 20% threshold for the first time in history, according to a Moody’s Analytics report released in July.
Smaller companies are expected to contribute the most to growth in leasing volumes, while larger organizations expect to offload excess space. A stronger flight to quality has pushed the vacancy rate in the top 8% of prime office stock 4.5 percentage points below that rate in non-prime buildings, Envoy Head of Data Analytics Jonathan Weindel wrote in an Aug. 1 blog post.
Against that backdrop, tenants and building operators are seeking tech-enabled spaces that can better facilitate hybrid work environments and inform space planning decisions. Here is some of Facilities Dive’s recent coverage of this trend.
