The high-inflationary environment is getting into the heads of corporate real estate, according to a new survey conducted by CoreNet Global.

It is affecting 62% of respondents in decision making and more than half (54%) are consolidating locations; 42% are reducing the size of leases they are signing; 41% are looking for cost-effective buildings and lower rents.

Meanwhile, nearly 60 percent say that their company is in growth mode, however, 75 percent expect the U.S. economy to slip into recession by year's end and 72 percent expect the global economy to be in a recession by the end of 2023.