Locke Lord Partner Mark Silverman Quoted by Bisnow on CRE Outlook as Office Space Availability Hits New High

April 15, 2024

Mark Silverman, Partner and Commercial Mortgage-Backed Securities Special Servicer Team Leader in Locke Lord’s Chicago office, was quoted by Bisnow on the outlook of the commercial office space market following a dismal first quarter. In the article, Silverman notes that the return-to-office movement has stalled due to downsizing, pointing out that while people are returning to the office, the need for sprawling spaces is no longer there.

“You have an issue with a lower group of tenants,” he notes. “The accounting firm just needs less space. That doesn’t mean that they don’t need an office, they do. But they don’t need as much office space as they once needed,” said Silverman.

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