Sep 18, 2023 - 0 Comments - Office Property -

Video: Costar National Director of Office Analytics Phil Mobley Discusses Office Performance & Values

CoStar Group National Director of Office Analytics Phil Mobley joins America’s Commercial Real Estate Show to share current office property performance, property values, and forecasts. Discussions include office property tenant trends, lender workout strategies, and areas of opportunity in the current market. He starts off noting the sector as having continued challenges nationally with vacancy at 13.3% and more like 17% plus if owner occupied and medical are excluded. he notes that tenants have given back about 160m sf since 2020 in what he refers to as a soft demand market. Just after 7 minutes in he discusses geographic differences, noting Miami and Las Vegas as performing well as people relocate to these markets.

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