The pace of office-space leasing slowed in the second quarter, mostly because of sluggish activity in the country’s top five markets, according to new figures from data firm Reis Inc.
That being said, what Reis did not put in the headline is that the current expansion, which already has run seven quarters longer than the previous one, has seen a much slower decline in the national vacancy rate. The net, net is that markets, including the more cyclical office sector, are navigating in a “slow and steady” environment.
For hiring managers, I would step-up focus on asset and portfolio management talent. Why? Obviously because returns are going to be produced on working your existing portfolio, and not on the buyside.