Survey: Shadow Space Will Slow Recovery

Facilities Management

OTHER PARTS OF THIS ARTICLEPt. 1: How Commercial Real Estate is Doing Depends on Point of ViewPt. 2: Commercial Real Estate Recovery: Drivers and DampersPt. 3: The New Normal for Commercial Real Estate MarketPt. 4: This Page

In a recent survey conducted by Building Operating Management of more than 300 facility managers on shadow space, the short version of the story seems to go like this: most have at least some shadow space (vacant space they currently own or lease). It hasn't grown in a year but they're also not expecting it to be absorbed for six months to a year, if they're even willing to guess. Shadow space dampens the recovery by absorbing the appetite for new space.