Key findings of the report include:
- The financial services sector has adapted its office-space usage in ways that are consistent with many office-using industries.
- While demand for office space among financial services tenants has edged down recently overall, industry demand is inconsistent among major metros.
- Leasing trends within the financial services industry correlate with: the types of institutions involved, environments with policies and incentives that are conducive to doing business, the scale of operations and access to a highly-skilled talent pool, a shift from some urban to suburban locations, and a desire for new construction.
This paper explores what is driving changes in the financial services sector’s use of office space and what tenants in that sector can do to reduce their occupancy costs.
The study concludes with action steps for owners and/or tenants of each property type.