By Bisnow
Over the last three years, the office market has been punched repeatedly, knocked down and nearly counted out. But across the country, thousands of small office owners are patching up their wounds, getting back in the ring and continuing the fight.
The office owners most often heard from nationally are the top prizefighters, publicly traded companies like Boston Properties and Vornado, or private institutional giants like Nuveen or Hines. Listen to their executives, and you’ll hear common refrains about how their portfolios, filled with the iconic, trophy assets that are poaching tenants from older buildings, are outperforming the larger market.
When these companies do feel pain, such as when Brookfield defaulted on a series of office loans across the country earlier this year, they have the financial wherewithal to absorb those losses, hand over the keys to the buildings and keep investing in other properties.
