The Daily Dirt: Is AI the office market’s best friend or biggest threat?
Recent first-quarter earnings from CBRE, Newmark and JLL told a story the office market has been waiting to hear: business is good again. All three commercial brokerages reported one of their strongest quarters since the pandemic downturn, fueled in large part by AI companies gobbling up space in New York and San Francisco. Small, well-funded firms are taking big, flashy offices in neighborhoods like NoMad and the Flatiron District, sometimes far larger than their current headcounts justify. AI startups with fewer than a dozen employees are inking large office leases, often long before they have the teams to fill them, […]
This article originally appeared on The Real Deal. Click here to read the full story.
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