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California  + Orange County  + Office  | 

New KBS Leases Top 2M SF During the COVID Period

KBS signed slightly more than 2 million square feet in accumulative lease transactions during the COVID-19 pandemic. The transactions comprise a mix of new leases, renewals and expansions, and span across the firm’s $8-billion portfolio of office assets.

“These leasing transactions demonstrate companies’ continued commitment to having a physical office after having experienced more than nine months of largely remote working due to the ongoing COVID-19 pandemic,” says Giovanni (Gio) Cordoves, Western regional president for KBS. “During the course of the pandemic, we have observed a rising sentiment among companies to return to their offices. The 2 million square feet of leases that our firm has signed during the pandemic is evidence that this sentiment is real.”

Although coronavirus cases continue to ebb and flow throughout the country, Cordoves points to studies revealing that enthusiasm for full-time remote work has waned considerably since March. When COVID first emerged, working from home was attractive to employers and employees as a means of continuing to operate efficiently.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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