Top 100 Office Leases of 2024 Point to Stabilization

From “Top 100 Office Leases of 2024 Point to Stabilization” – Commercial Property Executive

More space enhances productivity

“While the office leasing market has been in a downturn for several years amid shifting workplace strategies and elevated vacancy rates, several sectors continue to display resilience and even expansion,” Nick Schlanger, director of research services at NAI Hiffman, told CPE.

Growth among professional services, life science and tech firms has been a key driver of large lease transactions, as these industries maintain a strong need for high-quality office environments, Schlanger observed.

“Across these sectors, the push toward premium office space reflects a broader shift: rather than leasing just for capacity, companies are securing space that enhances productivity, aligns with corporate culture, and provides a competitive edge in recruitment and retention.”

Schlanger said that in two of the largest office leases in the Greater Chicago area last year, Medline Industries expanded its footprint in both the CBD and the suburbs.

Click here to read the full article in Commercial Property Executive.

About Hiffman National: 

Based in the Chicago area, with an additional five regional hubs and 30 satellite offices, Hiffman National provides superior property management, project services and accounting services to a diverse portfolio including office, medical office, retail and industrial properties nationally. The firm’s comprehensive property management platform and attentive approach to service contributes to client NOI and has helped the firm to more than double in size in five years. Hiffman National is an award-winning company with more than 250 employees strategically located throughout North America.

About NAI Hiffman:  

NAI Hiffman is one of the largest independent commercial real estate services firms in the US, with a primary focus on metropolitan Chicago, and part of the NAI Global network. We provide institutional and private leasing, property management, tenant representation, capital markets, project services, research, and marketing services for owners and occupiers of commercial real estate. To meet our clients’ growing needs outside of our exclusive NAI Hiffman territory, we launched Hiffman National, our dedicated property solutions division, which provides property management, project services, and property accounting services across the country. NAI Hiffman | Hiffman National is and award winning company headquartered in suburban Chicago, with more than 250 employees strategically located throughout North America.