
Office Space Requirements Tumble in April as Markets React to Tariff Uncertainty
Wednesday, June 18, 2025
"From the very beginning Gary Broidis has been the consummate professional. From appropriating valuing the office building we were selling, through the marketing process, negotiations, right through closing, we knew that Gary had our back. There is no question that we would use Gary when we have an opportunity to either buy or sell properties in the future. I want to publicly thank him for his superior efforts on our behalf."
Larry Feldman
CEO
Subway of South Florida
"I have worked with Gary Broidis on many transactions when Gary was representing my national retail tenant company in its expansion in South Florida as well as when I have represented the Landlord while he was representing the Tenant. In all of these transactions, Gary was consistently professional, knowledgeable and always maintained the highest level of integrity. Additionally, his diligence and innate ability to consummate a real estate transaction is a rare and unique combination. It is for these reasons, that I would recommend Gary and Atlantic Commercial Group to represent me, my company or anyone seeking a dedicated and well respected professional in the commercial real estate business."
"Gary and his company, Atlantic Commercial Group, Inc., have represented our company for over 10 years with respect to our office buildings in Boca Raton. During that time, they have been instrumental in facilitating the timely completion of any leasing transactions they have secured for our company. Gary's thorough understanding of marketing combined with his effective and personable style of communication, has enabled our buildings, even during the most difficult times, to maintain an above average level of occupancy. Gary has consistently brought qualified tenants and has negotiated deals that are beneficial to both Landlord and tenant. We are very pleased with his marketing and negotiation efforts. Whenever we are given an opportunity to recommend a real estate professional, Gary is always a top consideration. It is very rare to find someone with such a broad understanding of the market along with such marketing savvy, the ability to close transactions and excellent reputation among his peers."
“Simply Fashion has over 300 stores is rapidly expanding thanks to Gary and his company, Atlantic Commercial Group, Inc. We have added 9 locations in the South Florida market in the last 13 months all based on Gary’s enthusiastic outlook and diligent hard work! We are very pleased and impressed with his marketing and negotiation skills. He is one of the most knowledgeable people we know for the South Florida market, when you drive down a street he either has already worked on a project for a center or knows who owns it and can immediately use his blackberry phone to make the call that gets positive things happening. We look forward to a long and mutually beneficial relationship with Gary and his team for many years to come and would recommend him to anyone wanting to grow and expand!”
"I met Gary many years ago and have had the pleasure of working with him on a number of real estate transactions since then. He is very knowledgeable about real estate matters and the many ancillary issues that purchasers, sellers, tenants and landlords encounter in their real estate dealings and operations. I admire his integrity, his communication skills and how he treats his clients. I highly recommend Gary and his firm for real estate advice and services."
"I have been doing business with Gary Broidis for almost a decade now serving both the Landlord and Tenant disciplines. Gary is a pleasure to work with. His affable deal making style along with consummate professionalism have positioned him as one of Florida’s leading brokers. Coupled with the overall market savvy and deal experience at Atlantic Commercial Group, you are best served by him."
"Sometimes, it is important for me to know my limits. I know that I don't know the everyday ins and outs of commercial real estate. Just because I am a lawyer and know how to read a lease does not mean that I know what to look to include. Frankly, Gary, you saved a great bundle for me that I never would have thought to include, delete, or bargain. You truly know your stuff. I was more than impressed, but grateful."
"It is my extreme pleasure to write this testimonial letter for Gary Broidis. Our CPA firm has served as his accountants for the past fifteen years, providing both personal and business accounting and tax services. As such, I have gained a tremendous amount of respect for his knowledge and managerial abilities as a commercial real estate broker, and businessman. He has a keen understanding of the real estate industry, mortgage and equity financing, and has developed management techniques, and marketing procedures that have produced extremely favorable results. In my opinion Mr. Broidis is confident in his abilities, is professional, is financially responsible, and operates with the highest degree of ethics and trustworthiness. He is a person who knows how to keep an agreement, and has gained the respect of those who work for him and with him."
"I highly recommend Gary Broidis due to his tireless work ethic, knowledge of the real estate market and efficiency. He is most certainly a leader in his profession and my experience with him was outstanding from the onset."
"Gary was great to work with. He knows the area inside and out and helped us to find just what we needed for our practice. After helping us to get the right price, and even well after closing he stayed in contact offering his help in any way we needed."
"Gary Broidis of Atlantic Commercial Group was our broker in securing a tenant and facilitating a lease agreement for our office building. Mr. Broidis was very professional and enabled clear communications between us and potential tenants. Mr. Broidis’ knowledge of the market and various types of contractual agreements and enabled us to carry on our negotiations in the most expeditious manner."
“Since 2003, Atlantic Commercial Group has handled the office and retail leasing for many of our South Florida properties. During the past seven years, their market knowledge and diligence have proven an invaluable resource in our efforts to lease up space within the assets we re-positioned. Their efforts included the introduction of our properties to many national retailers as well as local merchants creating a viable tenant mix and improving NOI. In addition, they successfully renewed many of our existing tenants maintaining stability within the portfolio. I recommend Atlantic Commercial Group to property owners with holdings in the South Florida market.”
Tenant demand for office space took a sharp downturn in April 2025, echoing the steep declines seen during the 2023 banking crisis, according to VTS Data. Leasing activity dropped in 17 of 19 major markets, with a 23.2% fall in tenant inquiries and a 26.4% plunge in square footage — the steepest since 2021. Analysts link this slowdown to economic uncertainty following new U.S. tariff policies. While some markets like Austin and suburban Maryland showed resilience, others, including Boston and Silicon Valley, were hit hard. Despite the grim numbers, history offers hope: office demand rebounded quickly in 2023, suggesting a similar recovery could be on the horizon — if policy conditions stabilize.
Franchise Group has officially emerged from bankruptcy as a leaner, debt-restructured company focused solely on two core brands: Pet Supplies Plus and Buddy’s Home Furnishings. After selling The Vitamin Shoppe and shuttering American Freight, the company has rebranded under a new parent entity, Fusion Parent, with the same leadership team in place. This streamlined structure allows the company to refocus on growth, with over 200 new franchise agreements already signed. While the path forward looks more stable, experts note that both remaining banners must sharpen their competitive edge to thrive in a challenging economy.
Tariffs be damned — retail is moving full steam ahead. Despite all the buzz about tariffs at this year’s ICSC Las Vegas, developers and retailers are largely shrugging off the uncertainty. Industry leaders say retailers simply can’t afford to pause expansion, with store openings planned years in advance. The consensus? Tariffs are just another hurdle, not a deal-breaker. Strong sales, aging store fleets, and limited high-quality retail space are driving urgency. Retailers with diversified supply chains are best positioned to weather the storm, and investor appetite remains strong as lenders return to the sector. As one exec put it: “We need 50 new stores — let’s go.”