CBRE+2023年春季美國辦公室使用者情緒調(diào)查

Adaptive

SpacesSpring2023U.S.OfficeOccupierSentimentSurveyREPORTMakingProgressonOrganizationalChangeCBRERESEARCHMAY2023AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyExecutiveSummaryMost

companiesrequiringofficeattendanceandmanyanticipatingmoreattendancethisyearSentimentgrowstowardeithermostlyin-officeormostlyremoteworkEmergingclarityaboutthefutureleadingtoincrementalworkplacechangePortfoliooptimizationunderwaywithafocusonefficiencyandflexibilityOver

half

of

respondents,

ledbyCBRE’s

Spring2023OfficeOccupier

SentimentSurveyprovides

insightsfrom207corporaterealestateexecutiveswith

U.S.

officeportfolios

abouthoworganizationalstrategiestosupportthefutureofwork

areprogressing.Sixty-fivepercentofrespondentsto

CBRE’sSpring2023U.S.

OfficeOccupiersSentiment

Surveysaytheir

companiesarerequiringthatemployeesreturnto

theoffice.Financial/professionalservicescompanyrespondentslead

thetrend

with71%reportingthat

theircompaniesnowrequireareturntotheoffice,

mostofwhicharestipulatingAllowinganequalmixofofficeandremoteworkseemsto

beastrategythat

islosingfavor.Today,45%ofrespondentssupportamostlyorfullyofficeculture(vs.

37%in2022),

while22%supportamostlyorfullyremoteculture(vs.

15%in2022).

CBREstudieshavefound

that

mostemployeeswantto

workintheofficeat

leastsomeofthetime,

so

understandingemployeeHalfofsurveyrespondentslarge

companies,

anticipate

furtherreductions

of

their

officefootprintsto

trim

unoccupied

space,

with

mostexecuting

this

upon

lease

expirations.Where

tenants

are

negotiating

leases,renewals

are

the

preferred

strategy.However,

more

than

half

of

respondentsplan

to

relocate

to

better

quality

space.Markets

that

combine

walkability,

modernoffice

space,

housing

and

high-endexperiential

retail

are

outperforming.reportworkingwithother

companydepartmentsand

directlyengagingemployeesto

drivechange.Theseinitiativestypicallyresultingreater

spacesharing,

enhancedcollaborationspaceand

morevideo

conferencingbutstopshortofeffortsthat

willtrulytransformthewaytheofficeenables

thefutureofwork.attendancefor

morethanhalftheweek.

preferencesbeforeshiftingto

fullyOntheother

hand,

only56%oftechnologycompanyrespondentssaytheir

firmrequiresareturn,withmoststipulatingattendancefor

lessthanhalftheweek.remotestatusisimportant.Many

respondents

say

their

companiesare

seeking

flexibility

in

lease

agreements,including

shorter

lease

terms

and

morelatitude

to

expand

or

contract

their

totalspace.

Bundling

shared

building

servicesand

amenities

such

as

meeting

and

flexspace

also

is

highly

desirable

in

leaseagreements.Emergingpoliciesincludeallowingemployeesto

settheir

dailyworkinghours,havingemployeesintheofficeonarotatingscheduleand

institutingafour-dayworkweek.

Generally,

policiesarebeingrefined

tosetintention,provideclarityand

allowpredictabilityfor

allpartiesaroundwhat

hybridworkingmeans.Morethanthree-quartersofsurveyrespondentsreportofferingguidanceto

help

driveintended

officeutilizationpatterns.

Thosewithclear

policyguidancerequiringemployeeofficeattendanceareachievinghigherofficeattendancerates.Officespacegenerallyremainsunderutilized,

althoughsmallercompaniesaremorelikelytoreporthigher

attendance.

Thirty-eightpercentofrespondentsanticipateincreasedofficeattendancethisyear,

moreso

forthosecurrentlyhavingthelowestofficeutilizationrates.2CBRERESEARCH?2023CBRE,INC.01Current

StateofOfficeAttendanceAdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyMostcompaniesrequiringoffice

attendancebuttechnologycompanieslagFigure1:

CurrentGuidanceon

EmployerExpectationsforOfficeAttendance60%50%40%30%20%10%0%OverallTechnologyFinance/

ProfessionalServicesMostcompaniesappearmoredecisivethisyearaboutoffice-attendanceexpectations.Sixty-fivepercentofsurveyrespondentssaythattheircompanynowrequiressomelevelofofficeattendance,whileonly30%aremaintainingavoluntaryreturn-to-officepolicy.Thisisincontrastto

lastyearwhenoverhalfofrespondentsleftareturnto

officeupto

the

discretionofemployees.Ofthosethatrequireareturnto

office,57%aretrackingattendance.However,mosthavenoguidanceonenforcement.Consideringtoday’stightlabormarket,thisisnotsurprising.Employersare

carefullyrequiringmoredaysinthe

office,whileavoidingstrictenforcementto

hedgeagainstresignationsbyskilledemployees.42%30%23%RequiringRaeqRuei

rteudrn

to

Work

SupportingVoalVunotl

ua

rnytary

R

eturn

Req

uir

ingRaeqRueitruerdn

to

Work>2.5

Days>2.5Days<2.5

Days<2.5DaysFigure2:HowtheyaretrackingHowtheyareenforcingResultsvarybyindustry,withtechnologyrespondentscitingamorelenientreturn-to-officepolicythanotherrespondents.Only26%oftechnologyrespondentsrequireareturnto

the

officemorethan2.5daysaweekvs.48%offinancial/professionalservicesrespondents.Conversely,41%oftechnologyrespondentssupportavoluntaryreturnto

theofficevs.25%offinancial/professionalservicesrespondents.Thisindustrydifferenceindicateswhysomeofthemoretech-centricmarketsare

lagginginreturn-to-officerates.57%TrackingTrackingviaManagerReportingNoguidanceprovided52%46%TrackingviaBadgeSwipes/Sensors

/

VPNLoginsGuidanceprovidedbutnotenforced32%16%41%AttendanceTrackingviaWorkspaceBookingSystemGuidanceprovidedand

enforced13%Source:CBREResearch,April2023.4CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveySmallcompaniesmorelikelytohavehigherofficeattendanceFigure3:

AverageWeeklyOfficeUtilizationRate(headcount/deskcount)Officeutilizationratesvarygreatlybycompanybutgenerallyremainsubdued.Ninety-fourpercentofrespondentsfromlargecompaniesreportedofficeutilizationratesoflessthan60%.Whilethemajorityofsmall-companyrespondentsalsoreportofficeutilizationratesoflessthan60%,therearefivetimesmoreofthemabovethatthresholdthanlarge-companyrespondents.Thirty-fivepercentofsmall-companyrespondentsare

achievingthisgoalvs.6%ofthoseinlargecompanies.Techrespondentsreportedthelowestofficeattendanceandfinancial/professionalservicesrespondentshigher,butstillbelowthe

surveyaverage.0-25%26-60%61-100%By

Size

of

Company<5,000Employees>5,000EmployeesBy

Industry94%oflargecompanies65%ofsmallcompanies23%20%42%74%35%6%Finance/ProfessionalServicesTechnology14%41%22%66%55%54%20%4%Percentagereportinglow

office

utilization

rates(i.e.,lessthan60%)Overall24%Source:CBREResearch,April2023.Numberintableequatestopercentofrespondentsthatreporteachutilizationlevel.5CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyOffice

attendanceexpectedtoincreaseforcompanieswithlowestutilizationFigure4:

ExpectationsAboutOfficeUtilizationPatternsFigure6:SteadyStateExpectationsbyCurrentOfficeUtilization2022

2023100%80%Nearly40%ofrespondentsstillexpectofficeutilizationto

increase,whilemostexpectto

achievesteadystate

byyear-end.

Theloweracompany’scurrentofficeutilizationrate,thehighertheexpectationforanincreaseinutilization.Nearlyaquarterofrespondentsareunsurewhenofficeutilizationpatternswillreach70%60%60%35%65%51%44%56%50%40%30%20%10%0%43%38%6

0%40%20%0%6%2%acceptablelevels,pointingto

continueduncertaintyamongmanycompanies.Steady-StateAchievedUtilizationExpectedtoIncreaseUtilizationExpectedtoDecrease0-60%61%+At

Steady

State

AttendanceAttendance

Expectedto

IncreaseSixtypercentreportthattheirofficeutilizationhassettledatasteadystate,meaningthatmanycompanieshaveacceptedless-than-fullutilizationasthenewnormal.Thisisupfromonly43%thatreportedreachingasteadystate

in2022.Thesmallestcompaniesare

aheadofthecurve:71%ofthosewithunder100Figure5:ExpectedTimeline

forCompaniestoReachSteadyState47%24%6%23%H22023H12024H22024Unsureemployeessaidtheyhavereachedasteadystate

vs.only55%ofthelargestcompanieswith10,000+employees.&BeyondSource:CBREResearch,April2023.6CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyExecutivesaresplitoverhoweconomicuncertaintyimpactsreturn-to-officepoliciesFigure7:FocusofC-SuiteonOfficeAttendanceAmidEconomicUncertaintyTherehasbeenmuchspeculationaboutthe

impactofarecessionongettingemployeesbackto

theofficemoreregularly.Thesurveyindicatesthatexecutivesare

splitoverhoweconomicuncertaintyimpactsreturn-to-officepolicies.Forty-fivepercentofrespondentsreportednoimpactfromthe

weakeningeconomy,while40%reportedanincreasedurgencyofC-suiteexecutivesto

getemployeesbackto

the

office.Financialservicesoccupiersappearedmuchmorelikely(58%)to

doubledownonreturn-to-officeeffortsdueto

theeconomythantheoverallaverage.OverallTechnologyFinance70%60%50%40%30%20%10%0%Morethan70%ofU.S.respondentsto

CBRE’s

Global

Live-Work-Shop

Survey

whoidentifyashybridworkersclaimthattrustintheiremployerisstrongerthanitwaspre-pandemic.Thisismuchhigherthanfullyremoteorfullyin-officeworkersentiment.Trustisafoundationalfactorinemployeeengagementandmanagingthattrustisalong-termimperative.Takingacarefulandmeasuredapproachtoreturn-to-officemessaging,especiallyduringuncertaineconomictimes,isprudent.45%40%15%No

ChangeGreaterFocusLesserFocusSource:CBREResearch,April2023.7CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyPosition

towardamostlyofficeorremotecultureisgrowingFigure8:CompanyGoalsforSteady-StateOfficeUtilizationTryingto

balanceanequalmixofofficeandremoteworkseemsto

beastrategythatislosingfavorbasedonthisyear’ssurveyresults.Thedifficultyinspaceplanningandcreatingcriticalmassinthe

officeunderabalancedhybridstrategyislikelybehindthisshift.Only33%ofrespondentsreportedagoalofhavingemployeesworkanequalmixoftimebetweenthe

officeandremotely(vs.48%lastyear).Thisshiftinsentimenthasresultedin45%ofsurveyedcompaniessupportingamostlyorfullyofficeculture(vs.37%in2022)and22%supportingamostlyorfullyremoteculture(vs.15%in2022).Companiesseemto

bebalancingpredictabilitywithflexibilitymoresothanpreviousyears.Technologyrespondentsweremorelikelyto

aspireto

mostlyorfullyremotework(42%)vs.financial/professionalservicesrespondentswhoweremorelikelyto

aspiretomostlyorfullyofficework(50%).60%50%40%30%20%10%0%Sixty-threepercentofU.S.respondentsto

CBRE’sGlobalLive-Work-ShopSurveywantto

workinthe

officeatleastthreedaysaweek.Lessthan7%wantto

befull-timeremoteworkers.Employeepreferencesareimportantforcompaniestounderstandbeforetheyshiftto

astrategythatcouldimpactemployeeproductivityandwellness.3%5%

7%32%

38%48%

33%15%

19%0%Full-T

imeat

theOfficeMostlyatthe

Of

f

ice

EqualMix

of

Office

/Remote

WorkMostlyRemoteFull-T

imeRemote20222023TechnologyFinance/

ProfessionalServicesSource:CBREResearch,April2023.8CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyPoliciesarein

placebutmessagingvariesFigure9:ReturntoOfficePolicyFigure10:OfficeAttendanceRequirementsDefinedbyMixof

Company/TeamandEmployeeDefinedbyEmployeeSpecific

Days

of

the

WeekNo

Specific

DaysMonday

26%Withmorecompaniesintentoneither90%80%70%60%50%40%30%20%10%0%maintainingorboostingofficeattendancethisyear,clearcommunicationsto

clarifyandgaingreateracceptanceofoffice-attendancepoliciesare

critical.Seventy-sixpercentofrespondentsreporthavingapolicyoratleastguidanceinplaceto

helpdriveintendedofficeutilizationpatterns.Whilemostofthesepoliciesstate

thenumberofdaysperweekemployeesareexpectedto

beintheoffice,fewspecifywhichdaysofthe

week.Forty-onepercentindicateitvariesbyteamand41%indicatetherearenoexpectations.Ofthosethatdospecifyactualdays,mostareinmid-week.DefinedbyCompany/TeamVariesby

TeamTuesdayWednesdayThursdayFriday68%81%61%9%27%6%18%41%45%41%22%Policy

ExistsPolicy

DoesNOT

ExistSource:CBREResearch,April2023.9CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyClearcommunicationleadstoincreasedattendanceFigure11:Respondents

With

60%+

Utilization

Based

on

Return-to-Office

PolicyAclearandlogicalpatternformswhenanalyzingofficeutilizationbasedoncompanypolicy.Forty-fourpercentofsurveyedcompaniesthatrequireareturnof2.5daysormorehaveofficeutilizationratesabove60%.Only2%ofthosewithavoluntarypolicyare

achievingthe

same.Itisclearthatsettingexpectationshelpscompaniesachievehigherofficeattendance.50%45%40%35%30%25%20%15%10%5%44%44%20%ofsurveyedcompaniesthatrequireareturnof2.5daysormorehaveoffice

utilization

rates

above

60%2%0%Req

uiRredq

u>ir2e.5dDays>2.5DaysRequirReedq<ui2r

e.

5dDays<2.5DaysVVoolluunnttaarryySource:CBREResearch,April2023.10CBRERESEARCH?2023CBRE,INC.02EnablingNewWork

StylesAdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyEffortsunderwaytosupportworkplacechangeFigure12:WorkplaceChangeStrategiesMostcompanieshaveimplemented70%61%60%workplacestrategiesto

bettersupporttheparadigmshiftinhowpeoplework.Thosemanagingworkplacechangearelistening,learningandorganizinginorderto

acteffectivelyonideasthatwillsupportafuturestate.Mostcompaniesmanagingchangereportpartnershipsbetweentheirhumanresources,informationtechnology,corporaterealestateandcommunicationsdepartments,aswellasengagingemployeesthemselvesintheprocess.Thoseactingonworkplacechangemostcommonlyreportreconfiguringspacewithapriorityon57%50%50%50%40%30%20%10%0%30%30%15%facilitatingemployeecollaboration.Fewsurveyedcompaniesreportedafocusontransformationalchange,suchassettingupaprogrammanagementofficeto

guidelong-termchangeandreimaginespacedesign.ParPt

naerrtinn

gerwinitghwHiRth,

IT,

EEnn

ggaaggini

nggeemmplpolyoeyeeseosn

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PrioPrirtiizoirnitgi

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negqtuhaelityReal

Estate,

ne

w

workplace

strategies

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nage

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to

based

on

existing

design

and

quantityofDDeevveelolpoipnignagnadnodrInItnr

otdroudciuncgi

nagnae

wnsepwacespacekitofpartssubmitting

budge

ts

forkit

of

parts

(i.e.HR,

IT,

RealEstate,

onnewworkplace

managementofficetobasedonexistingqualityandquantityor

submittingCommunicationsviasurveys,

focus

groups

guidetransformation

principles

to

support

new

collaboration

spacecapital

improvements

reimagined

spaces)toCommunicationsstrategiesviaguidetransformation

designprinciplestoofcollaborationbudgetsfor

capitalimprovements(i.e.,reimaginedetc.ways

ofworkingofferedsupport

new

ways

ofsurveys,

focussupportnewwaysspaceofferedspaces)toworkinggroups,etc.Managing

C

han

geofworkingsupportnewActing

on

ChangewaysofworkingManaging

ChangeActing

on

ChangeSource:CBREResearch,April2023.12CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyFigure13:

HowCompaniesEngageWithEmployees60%49%47%50%40%30%20%10%0%44%42%42%36%33%ComC

ommu

nmi

cuant

iincgattiongto

SurveySinugrveemypi

nl

ogyees

to

CoCmommunmicuantiincga

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EstaEbslti

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nlisghtienagmteleavmelSSuuppppoortritningg//trtarianiinn

ging

Coachi

nCgoeaxcehciuntgives

and

EstaEbslistahbi

nlgisbheinsgt

bestemployees

aboutunderstand

t

heir

needs

employees

about

w

hy

a

agreement

s

betweenmanagers

to

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business

leaders

to

lead

practices

ar

oundemployeesaboutemployeestounderstandtheiremployeesaboutlevelagreementsmanagers

to

executives

and

practicesforcompany

poli

cies

andand

preferencesreturnto

office

is

critical

managers

and

em

ployees

new

team

norm

s

and

by

exam

plecommunicating

with

eachcompanypolicieswhyareturntobetweenmanagersestablishnewteamnorms

and

behaviorsbusinessleaderstoleadbyexamplecommunicatingwithexpectations

around

RTOto

com

pany

successto

establish

expectations

behavior

sother

ar

ound

presenceand

expectations

forneeds

andpreferencesofficeiscriticaltoand

employeestooneanotheraboutfor

anticipated

time

intheawarenessofficeattendancecompanysuccess

establishexpectationspresenceawarenessoffice.foranticipatedtimeintheofficeSource:CBREResearch,April2023.13CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyMakingspaceefficientandeffectiveFigure14:

Employee-to-DeskRatioFigure15:CorporateRealEstateTechnologyImplementationThemostcommonactionsto

reallocatespaceinsupportofnewworkpatternsfocusonmakingspacemoreefficientforthe

companyandmoreeffectiveforemployees.Sixty-sixpercentofrespondentsindicatedtheyweremovingawayfromindividualseatassignmentstowardagreaterratioofseatsharing.Fifty-twopercentareplanningupto

a2-to-1TodayIn

Two

Years60%50%40%30%20%10%0%56%EnhancedVideo

ConferencingRoom/Space

Bo

okin

gSoftwareSmartBuildingSy

stems

&

SensorsOccupancy

Sensors77%52%56%employee/seatratio,while15%areplanningupto

a3-to-1ratio.Onlyone-quarterofrespondentsplanto

keepa1-to-1ratioorless.38%41%36%34%31%25%0%

20%

40%

6

0%

80%

100%Seatsharingandemployeescollaboratingbetweenthe

virtualandphysicalworldsonaregularbasishavemadebothvideo-conferencingtechnologyandspacebookingtechnologymoreofapriority.Therighttechnologyandspaceto

supportthattechnologycanhelpcompaniesandteamstransitioneffectivelyto

hybridwork.Surveyedcompaniesare

mostfocusedoninvestinginvideoconferencingtechnology,whichincludestheplatform,microphones,speakers,cameras,high-definitiondisplaysandroomset-up.25%AirQuality

Sensors15%Employee

Experience

Ap

pTouchlessTechnology8%4%4%1.0

or

Less1.01

to

2.02.01

to

3.03.0

or

MoreSource:CBREResearch,April2023.14CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyHybridworkingcontinuestoevolveEmployersgettingcreativebeyondhybridworkWhilethe

conceptofhybridworking—splitbetweentheoffice,homeandotherplaces—isnowwellestablished,clearerexpectationsare

emerging.Inshort,thescopeofhybridworkingcontinuesto

evolveinthefollowingways:When

you

workWhere

you

workAllowingemployeestoset

theirownhoursonofficedays:Havingemployeesintheofficeonarotatingschedule:?

Mostimplementedalternativestrategy

(27%).?

Mostexploredalternativestrategy

(31%).?

Allowsteamsto

setcoreofficehoursto

betterpredictin-personengagement.?

Allowsemployeesto

maintainsomelevelofautonomyonadailybasis.?

Allowsemployersto

planforefficientuseofrealestateandensureappropriateteamscomeintogether.?

Allowsemployeesto

maintainsomelevelofautonomyonascheduledbasis.Implementingafour-dayworkweek:Workingfromanywhereacertainnumberofweeksperyear:?

Afew(3%)companiesreportexploringthisoption.?

Secondmostexploredalternativestrategy(21%).?

Resultsfromasix-monthU.K.trialinvolvingdozensofcompaniessuggestthatproductivity,moraleandteamculture

improveandindividualsreapbenefitsfortheirhealth,financesandrelationships.?

Viewedasacomplementto

hybridworkpoliciesthatallowsemployeescompleteautonomyforacertainnumberofweeksperyear.Implementingavirtual-firststrategy:?

Allowsemployeesto

workremotelyandaccessdrop-inspaceasrequired.?

Allowsemployersto

drasticallyreducetheirrealestateportfolio.?

Givesemployeesahighlevelofautonomy.15CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyFigure16:

EmergingWorkplacePoliciesExploringImplementing50%40%12%31%27%30%16%21%16%20%3%10%0%20%20%17%Allowingemployeesto

amend

Askingemployeesto

visit

the

Allowingemployeesto

workAllowing

employees

to

AskingemployeestovisittheVirtual-firststrategy–allowingFo

ur-day

work

weekFour-dayworkweekAllowingemployeestowork

Virtual-firststrategy–allowinghours

on

offi

ce

days

(e.g.,

10-6

office

on

a

ro

tati

ng

schedule

to

from

anywhere

a

certain

number

employeestoprimarilyworkamend

hours

onofficedaysofficeonarotatingscheduletobetterspread

attendancefromanywhereacertainof

weeksa

yearemployeestoprimarilyworkvs9-5)remotelyandaccessdropin(e.g.,10-6vs.9-5)betterspreadattendancenumberof

weeks

ayearremotelyandaccessdropinspaceasrequiredspaceas

requiredSource:CBREResearch,April2023.16CBRERESEARCH?2023CBRE,INC.03Efficient

PortfolioPlanningAdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyLargerportfoliostodrive

morerightsizingFigure

17:

Real

Estate

Portfolio

StatusUncertaintysurroundingthelong-termimpactofhybridworkhastranslatedintovaryingapproachesto

spaceplanningoverthepastthreeyears,withnearly23%ofrespondentsreportingportfoliogrowthand44%portfoliocontractionsincethestartofthepandemic.Downsizingwasmoreprominentamongtechnologyandfinancialservicesfirms,with64%reportingreducingtheirportfoliosizeoverthepastthreeyears.Last3

Y

ears33%Next3

Years35%30%25%20%15%10%5%26%26%Morethanhalfofrespondentsanticipatefurtherrightsizingoftheirportfoliointhenextthreeyears.

Mostofthissentimentisforportfoliosbecomingupto

30%smaller.Largercompanieswilldrivethisportfoliodownsizing:68%ofthelargestcompaniesinthe

survey(>10,000employees)plandownsizingscomparedwith46%ofallotherrespondents.

Forallsurveyedcompaniesplanningto

downsizetheirrealestateportfolio,87%saytheyrequirelessspacedueto

theincreaseinhybridwork.However,31%saytheyplanto

downsizebecauseofinefficienciesintheirportfoliothatpredatedthepandemic,whileanother27%aredoingsotoreducecosts.19%14%14%13%11%10%10%10%7%3%3%0%Only36%ofthesmallestcompaniessurveyed—thosewithlessthan1,000employees—planto

reducetheirofficespace.Eighty-eightpercentofoffice-usingbusinessesinthe

U.S.havelessthan1,000employees.Therefore,smallerrequirementsshouldremainthenormforfutureofficeleasingactivity.Significantly

MMooddeerraatteelyly

MMiinniimmaalllyy

Thesame

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Significantlys

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larglearger(co(n>t3r0a%ct)ing

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(<(1<01%0)%)3

0(1%0)-30%)

(gr(o>w3i0n%g)by(<10%)bymorethan30%)morethan30%)Source:CBREResearch,April2023.18CBRERESEARCH?2023CBRE,INC.AdaptiveSpacesSpring2023U.S.OfficeOccupierSentimentSurveyOptimizingcurrentportfoliosFigure18:OccupierStrategiesforPortfolioOptimizationMostcompaniesarefocusedonrenewingtheirexistingofficeleasesto

preventoperationaldisruptions,negotiatebetterleasetermsorperhapsavoidcostlybuild-outs.Thisisparticularlytrue

forlargetenantsperhapsdueto

thenegotiatingpowertheirsizeandcreditmayholdwithsomelandlords.Giventhe

currentcapitalmarketsenvironment,tenantsshouldconductduediligenceontheircurrentlandlordandfullyunderstandthe

capitalstackofthe

building,the

debtcomingdueandotherleaseexpirationsorvacanciesinthe

building.Thiswillhelpthetenantto

fullyunderstanditsleverageandensurethecorrectsafeguardsarenegotiatedintothetransaction.ExecutingStrategyExploringStrategyExecutingStrategyExploringStrategy9

0%80%70%6

0%50%40%30%20%10%0%19%58%27%40%Tenantsshouldconductduediligenceontheircurrent

landlord14%6%Rene

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