The incredible shrinking lease: Some Seattle-area firms shun long-term contracts as office return stalls

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The Seattle Times

Adam Wray isn’t keen on paying for office space that he no longer needs. Although workers at Wray’s company, AstrumU, an artificial intelligence firm in Kirkland, Washington, are back in the office at least three days a week, CEO Wray doesn’t know yet whether they’ll actually need all of the 7,200 square feet AstrumU now leases. Given that uncertainty — and the costs if Wray guesses wrong — he’s looking to extend his lease a year instead of the usual three. That would’ve been unheard of for a growing tech firm before COVID-19. But these days, Wray says he’s “concerned about committing to more …

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