With the economic pressures and uncertainly brought on by coronavirus, corporations are looking for lease term flexibility and more agile office solutions.
Commercial leases are getting shorter.
In the US, the average office lease term fell 15% in the first five months of 2020 to seven years, according to JLL—and it's likely to fall further. To put this into perspective. In Hong Kong and the UK, an average office lease lasts three years and six years, respectively.
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