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More Office Space Being Removed Than Added For First Time in At Least 25 Years (cnbc.com) 21

More office space in the U.S. is being removed than added for the first time in at least 25 years. New data from CBRE Group shows that across the 58 largest US markets, 23.3 million square feet of office space is slated for demolition or conversion by year-end, while developers will complete just 12.7 million square feet of new construction.

More Office Space Being Removed Than Added For First Time in At Least 25 Years

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  • Good (Score:5, Insightful)

    by Austerity Empowers ( 669817 ) on Tuesday June 03, 2025 @12:27PM (#65424739)

    Letâ(TM)s stop wasting money and space on that.

  • by VampireByte ( 447578 ) on Tuesday June 03, 2025 @12:31PM (#65424753) Homepage

    Good riddance to the Bill Lumberghs and beige cubicles.

    • More like halt and catch fire.
    • I envy your beige cubicles. We had gray. They were made by Westinghouse. If their nuclear power plants were as shoddy as their 1980 cubicles, we're doomed. Our Lumbergh walked around poking his cigar at people. He was eventually ejected, with his picture at the front reception desk and instructions to call the police if he showed up.
  • by geekmux ( 1040042 ) on Tuesday June 03, 2025 @12:32PM (#65424757)

    Laid off tens of thousands of office workers in the last 2 years. Demanded workers RTO after supporting them to move very remote and work, while abusing RTO as a convenient ("legal") excuse to lay off even more.

    It's almost as if there are obvious consequences anyone and everyone could see coming.

    Next up, listening to commercial-flavored dirt pimps bitch about how they're Too Big To Fail. While that excuse should be about as entertaining as laughing at an overflowing car dealership full of overpriced arrogance, unfortunately they may wield slightly more influence. That's a nice pension fund you've got there. Would be a shame if something happened to the commercial-flavored dirt market..

  • by Inglix the Mad ( 576601 ) on Tuesday June 03, 2025 @12:46PM (#65424793)
    He's been getting more apoplectic lately, likely in no small part due to the amount of commercial loans hanging around JP Morgan Chase's neck like a millstone.
  • by algaeman ( 600564 ) on Tuesday June 03, 2025 @12:59PM (#65424821)
    We won't need so many higher education facilities once the gammas and deltas start working in the mines, like they are supposed to.
  • On Microsoft's Redmond campus they have half a dozen unfinished buildings that construction crews have been "working on" for over a year without making much visible progress. The project was planned before COVID, but in the aftermath with so much remote work (and now with Microsoft steadily laying people off) I think they're regretting booking so much new office space that's likely to be 20% occupied.

    • by Ziest ( 143204 )

      Some of these companies are going forward with construction projects because after giving local politicians bribes, excuse me "Campaign Contributions" , they got all the permits lined up so they can build their new, ego stroking buildings. Most of these permits have a time limit on them, ie. start building by X date or the permit expires. The companies realize that if the permits expire the chances of getting new permits are slim to none since the voters who live around these project are unhappy and will vo

  • I drove around a part of the Moffett Business Park area in Sunnyvale yesterday that used to be part of Lockheed but was sold off and developed 15 or more years ago. Huge multistory buildings with acres of surrounding parking lots, all, totally empty and deserted except for some landscaping maintenance guys. Another older part of the park where I actually used to work 40 years ago is almost just as deserted. A number of buildings have fences surrounding them like maybe there is some remodeling going on excep

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