“Let’s sit down and sign a contract. It will last for 10 years, and it will cost you hundreds of thousands of dollars, if not millions. What you’ll get out of the deal will be an office. Yes, an office: the physical real estate that was deemed unsafe by the pandemic, and which continues to be an uncertain space for human use. The remote work of the lockdown days has evolved, post-pandemic, into here-today-gone-tomorrow hybrid work. As a result, office spaces are often occupied only some of the time, and in some cities they are virtual ghost towns, stacked in vertical ghost buildings, filling ghost blocks.
With high vacancy and low demand, the debts coming due on many of these buildings may simply be unpayable. But office spaces in general are not dead.” (Fast Company)
Haril Pandya, Principal and National Practice Leader, Asset Strategy, shares why it’s a good time to be a tenant with Fast Company.
Why Now Might Actually Be The Best Time To Sign A Long-Term Office LeaseDownload PDF
Haril Pandya, FAIA LEED AP Sr. VP/Managing Director, Boston National Practice Leader, Asset Strategy
Haril serves as Senior Vice President of NELSON Worldwide’s Boston office. A multi-disciplinary and award-winning national architectural firm, NELSON has over 700 employees and 20 offices in key markets throughout the country. As the National Design Leader for Architecture and a National Practice Leader, Haril thrives on partnering with clients (building owners, developers, brokers, and tenants) providing INSIGHT, EXPERTISE, and DESIGN EXCELLENCE in Building Repositioning/Adaptive Re-Use/Highest and Best use, Value Add, Mixed-Use High/Mid/Low Rise, Residential, Office, Lab/Life Science, Workplace, Retail, Hospitality, Office, Urban/Master Planning and Branding Strategies on a local, regional, and national scale.