2022 Year in Review: James Wacht, Lee & Associates NYC

What person, project, transaction or market trend had the greatest impact on your industry this year? The work-from-home movement significantly impacted office leasing, creating substantial uncertainty among office tenants, with some leasing less space for shorter terms. Tenants are foregoing renting larger spaces or have drastically reduced their footprint as leases rollover. We expect companies will better adjust over the next two years to reflect the market.

How has your career path changed in 2022? From 2020 through Q1 2022, mitigating the impact of COVID-19 on Lee & Associates was my priority. Having emerged from the pandemic better and stronger, I’m now focused on taking advantage of the economic slowdown and capitalizing on the opportunities it presents to hire more, increase infrastructure, and open a new office.