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Tag: office buildings

Progressive to Sell Office Buildings as Shift to Remote Work Cuts Need for Space

Progressive to sell office space

Progressive Corp. intends to list several of its office buildings across the United States for sale as it consolidates office buildings amid a changing work environment, a company spokesman said.

Published April 22, 2024
Categorized as Show on Homepage Tagged office buildings, Progressive, real estate, remote work

Office Building Owners Are Losing Hope that Occupancy Rates Will Rebound Soon

office buildings remain empty post-pandemic

Office building owners, hammered by falling demand and high interest rates, struggled in 2023. But they mostly managed to stay afloat. That is going to be a lot harder to do next year. 

Published December 19, 2023
Categorized as Show on Homepage Tagged empty buildings, office buildings, office occupancies, pandemic and remote work

Office Building Owners Bracing for Drop in Property Valuation

Hard property insurance market

Prices for some aging office towers have already dropped by a quarter as potential buyers struggle to secure financing at a time when interest rates are rising rapidly.

Published October 31, 2022
Categorized as Show on Homepage Tagged defaults, office buildings, property owners, rising interest rates
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