Latest news with #Vestian
Associated Press
6 days ago
- Business
- Associated Press
Vestian Appoints Jason Wuchiski as National Lead for Retail Group
CHICAGO, June 4, 2025 /PRNewswire/ -- Vestian, a global real estate advisory firm, today announced the appointment of Jason Wuchiski as National Lead for the company's Retail Group. In this expanded role, Wuchiski, Executive Managing Director, will now oversee Vestian's retail service offerings across the United States, developing the firm's national retail strategy and expanding client relationships. He previously served as Northeast Retail Lead for the company. 'Jason's proven leadership and extensive industry knowledge make him the ideal person to lead our retail practice nationally,' said Michael Silver, Chairman of Vestian. 'His track record of success in managing retail brokerage teams and developing strategic growth plans for national brands will be invaluable as we continue to expand our retail services across the country.' Wuchiski brings over 20 years of experience in the retail real estate sector to this position. During his career, he has exclusively represented more than 50 national and regional retailers and restaurants. His expertise includes developing and managing strategic expansion plans for numerous retail brands and overseeing the leasing of significant retail portfolios. 'I'm honored to take on this expanded role leading Vestian's retail practice nationally,' said Wuchiski. 'The retail landscape continues to evolve rapidly, and I look forward to working with our talented team across the country to deliver innovative solutions that help our clients optimize their real estate strategies in this dynamic environment.' Wuchiski will continue to be based in Vestian's Northeast office while assuming his new national responsibilities. For more information about Vestian's retail services, please visit About Vestian Vestian is a global corporate real estate services firm dedicated to providing end-to-end real estate solutions for businesses worldwide. With a commitment to transparency and innovation, Vestian helps ambitious companies align their real estate strategies with their business objectives. Offering a comprehensive suite of services including portfolio solutions, transaction management, advisory services, design & project services, and facility management, Vestian specializes in creating customized real estate strategies that drive operational efficiency, enhance workplace experiences, and support overall business growth. Serving a diverse range of industries including Office, Industrial, Retail, and Healthcare, Vestian partners with businesses of all sizes, from startups to Fortune 500 companies, to maximize the potential of their real estate assets globally. View original content to download multimedia: SOURCE Vestian
Time of India
6 days ago
- Business
- Time of India
91Springboard sets up 6 co-working centres with 3,600 seating capacities
Co-working player 91Springboard has set up six new centres comprising around 3,600 desks in Mumbai, Delhi-NCR and Pune to meet the rising demand for flexible office space for corporates. The company has expanded its portfolio, adding over 1.7 lakh square feet of area through six new hubs in these cities. 91Springboard caters to entrepreneurs, freelancers, as well as mid- and large-sized enterprises. With this expansion, 91Springboard now offers around 30,000 desks across more than 1.5 million sq ft of space in India. "These new hubs are more than just office spaces - they are dynamic ecosystems designed to fuel innovation, collaboration, and growth. As companies expand their footprint across India, we are delivering flexible, intuitive workspaces that feel like home but work like a powerhouse," Sameer Singh, Chief Operating Officer at 91Springboard, said. Live Events The company currently has 40 centres spread across eight cities -- Bengaluru, Mumbai, New Delhi, Hyderabad, Gurugram, Noida, Pune and Goa. According to real estate consultant Vestian, flexible space operators will have a portfolio of more than 100 million sq ft by the end of 2026, accounting for 20 per cent of the pan-India office stock.
Time of India
01-05-2025
- Business
- Time of India
Hyderabad housed highest vacant office stock of 28.5 m sq ft in Q1 of 2025
Hyderabad: With 28.4 million sq ft of Grade A office space lying vacant, Hyderabad had the highest vacant office stock among the top seven cities in the country in the first quarter of 2025 (Q1-2025), according to realty consulting firm Vestian. However, when it came to overall vacancy levels, Hyderabad, which has a total Grade A office stock of 162 million sq ft as of Q1 2025 and vacancy levels of 17.5%, was second after Kolkata, which had nearly 29% (7.9 million sq ft) of its total office stock of 27.5 million sq ft lying vacant as of Q1 2025. The heartening news, however, was that the total vacancy rate in Hyderabad declined from 19% in Q4 2024 due to muted supply and relatively higher absorption, said the report 'The Connect Q1 2025'. The city had negligible new completions during Q1 2025 as compared to 5 million sq ft of new supply in Q4 2024, it added. Since 2020, the city reported 59 million sq ft of new completions and absorption of 48.5 million sq ft, but in Q1 2025, Hyderabad recorded an absorption of only 2.66 million sq ft, its lowest in the past four quarters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Lost Their Money - Learn From Their Lesson Expertinspector Click Here Undo This led to Hyderabad's share in the pan-India absorption also sliding to 15% in Q1 2025 from 21% in Q4 2024 and 17% in Q1 2024, the report said. However, global capability centres (GCCs) accounted for half the total office space absorption in the city during the quarter, accounting for 17% of the space leased by GCCs across the top seven markets. For Q1 2025, the lifesciences and healthcare sector accounted for 30% of the total office space leased during the quarter in the city as against 15% clocked in the previous quarter (Q4 2024), while the share of the IT/ITeS sector fell from 38% in Q4 2024 to 20% in Q1 2025. Consulting services and engineering and manufacturing sectors together accounted for 21% of the total absorption during the quarter.
Hans India
01-05-2025
- Business
- Hans India
Hyderabad Tops Office Vacancy as Supply Outpaces Demand
Hyderabad has emerged as the city with the highest office space vacancy among India's top seven urban markets, driven by persistent supply outpacing demand since 2020. According to new research by Vestian, 59 million sq. ft. of new office stock has been completed in the city since 2020, while 48.5 million sq. ft. has been absorbed, resulting in a growing inventory of unoccupied space. By the end of Q1 2025, Hyderabad's vacant office inventory reached 28 million sq. ft., the highest among major metros. The vacancy rate is expected to climb further due to a steady flow of new developments in the pipeline, even as overall national construction activity saw a quarterly decline. Pan-India construction levels dropped 39% from the previous quarter and 12 per cent year-on-year, totaling 9.5 million sq. ft. in Q1 2025. This slowdown was partly due to minimal or no new supply additions in Hyderabad, Chennai, Mumbai, and Kolkata during the period. Despite reduced construction activity, office leasing across top Indian cities remained steady. The first quarter of 2025 saw a 34 per cent annual increase in space absorption, totaling 17.96 million sq. ft. Strong demand in western markets such as Mumbai and Pune fueled this growth, with their combined share rising from 24 per cent in Q1 2024 to 37 per cent in Q1 2025. Technology sector requirements, particularly from the IT-ITeS segment, continue to support demand. This sector accounted for 34 per cent of the national office absorption in Q1 2025, following a 36 per cent share in the prior quarter. The expanding influence of artificial intelligence has significantly impacted IT leasing patterns and expansion plans. Shrinivas Rao, FRICS, CEO of Vestian, noted, "The Indian office market has held its ground in early 2025, propelled by steady demand from sectors like GCCs, IT-ITeS, BFSI, and flexible office providers. While quarter-on-quarter absorption dipped, forward-looking demand signals remain positive." Q1 2025 Market Data Overview: - Bengaluru led the country with 4.08 million sq. ft. of office absorption, accounting for 23 per cent of the national total, despite a 3 per cent quarterly decline. - Mumbai followed with 3.99 million sq. ft., up 60 per cent year-on-year but down 11 per cent from the previous quarter. - Pune reported a 276 per cent annual increase, absorbing 2.66 million sq. ft., raising its share from 5 per cent to 15 per cent. - Chennai posted the steepest annual fall in absorption at 52 per cent, down to 1.6 million sq. ft. - NCR (Delhi region) saw 2.73 million sq. ft. of absorption, up 51 per cent year-on-year. - Kolkata had the lowest absolute absorption at 0.23 million sq. ft., but posted sharp increases of 44 per cent YoY and 289 per cent QoQ. New Completions Data: - Bengaluru led new completions with 3.5 million sq. ft., representing 37 per cent of the national total. - Pune followed with 2.9 million sq. ft., or 31 per cent of new supply. - NCR doubled its completions to 2.6 million sq. ft., a 44 per cent quarterly rise. Among occupiers, GCCs led leasing activity in Bengaluru with 39 per cent of the city's absorption. The sector saw a 39 per cent quarterly and 119 per cent yearly increase. Hyderabad, despite a 17 per cent rise in annual absorption, recorded negligible new completions in Q1 2025, pushing its vacancy level to a record high.
Hindustan Times
01-05-2025
- Business
- Hindustan Times
Top seven cities record 17.9 million sq ft of office space absorption in Q1 2025, Bengaluru tops the list
Office space absorption across the top seven cities reached 17.9 million sq ft in Q1 2025, marking a 34% year-on-year increase, according to a report by Vestian. Bengaluru led the growth with 4.08 million sq ft absorbed—a 56% rise from the previous year. Mumbai followed closely at 3.99 million sq ft, while Kolkata, despite recording the lowest absorption at 0.23 million sq ft, saw a 44% year-on-year increase. Bengaluru led the absorption by Global Capability Centres among the top seven cities with a 39% share in Q1 2025, registering a 39% Qoq and 119% YoY increase in value terms. Pune reported an annual increase of 276% in absorption, with its pan-India share rising from 5% in Q1 2024 to 15% in Q1 2025. Conversely, Chennai witnessed the highest annual drop of 52% with its share declining from 25% to 9% during the same period, according to the report. Also Read: Bengaluru witnesses 28% drop in gross office space leasing in Q1 2025: C&W Pan-India construction activities slowed down by 39% in a quarter and 12% over the previous year. This slowdown can be attributed to the absence of new supply in Hyderabad and minimal supply additions in Chennai, Mumbai, and Kolkata during Q1 2025, Vestian said. "Despite a quarterly decline of 3% in value terms, the share of Bengaluru in pan-India absorption increased to 23% in Q1 2025 from 19% a quarter earlier. Similarly, the share of Mumbai also rose marginally by one percentage point to 22% in Q1 2025 despite an 11% decline in value terms," it said. The report showed that Bengaluru led new completions in Q1 2025 with a 37% share at 3.5 million sq ft, while Pune followed with a 31% share at 2.9 million sq ft. Bengaluru's share increased from 21% in the previous quarter, whereas Pune's share rose from 15%. New completions in NCR doubled to 2.6 million sq ft in Q1 2025 compared to the same period a year ago and Mumbai recorded a marginal 0.3 million sq ft of new completions in Q1 2025. The top seven cities include Bengaluru, Hyderabad, Chennai, Mumbai, Kolkata, Pune, and NCR. Also Read: Bengaluru tops office leasing 2024, sees record leasing of nearly 21.8 million sq ft: Report As of Q1 2025, Hyderabad had 28 million sq ft of vacant space, the highest among the top seven cities. Despite robust demand, Vestian said the stock is expected to rise further in 2025 due to a strong pipeline of upcoming supply in the city. Since 2020, the city has recorded 59 million sq ft of new completions and 48.5 million sq ft of office space absorption. 'India's office market maintained its growth momentum in Q1 2025, driven by sustained demand across the major office markets in India. Even though the absorption decreased over the previous quarter, demand for office spaces by GCCs, IT-ITeS, BFSI, and Flex Spaces is expected to swell in the forthcoming quarters," Shrinivas Rao, FRICS, CEO, Vestian, said.
