Tenant Leasing Sight Unseen
How often if ever do tenants sign sight unseen for an office deal? I am trying to gauge the future adoption of virtual touring adoption especially when it comes to buildouts.
I'm sure it has happened, but it's a bit weird if you ask me.
At the same time, if you're touring it virtually, it's not exactly sight unseen.
With the current technology, how likely is it that a small company will relocate based on online build-out renderings and 360 tours without ever seeing the space physically? I am talking about 1,000-10,000 SF leases.
I genuinely couldn't put a percentage on it. For a small company, rent is decently large part of their overhead, so I would think they'd be very cautious about where they work.
Still, I'm not basing this on anything concrete. There could be a market for it.
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