Pandemic Bound To Trigger Massive Changes In Office Use
- 4 years ago
The COVID-19 pandemic may do to US office rentals what online retailing did to malls.
At least, that's the thinking in commercial real estate circles.
According to Reuters, millions more Americans working from home may ramp up corporate moves to downsize their offices.
That's a decade-old trend partially responsible for the office sector underperforming other property asset classes in recent years.
The surging jobs market and economic expansion in the US was upended by orders to close offices to prevent the spread of the coronavirus.
Zoom and other apps have made it possible for staff to collaborate remotely and be as productive as they are in the workplace.
At least, that's the thinking in commercial real estate circles.
According to Reuters, millions more Americans working from home may ramp up corporate moves to downsize their offices.
That's a decade-old trend partially responsible for the office sector underperforming other property asset classes in recent years.
The surging jobs market and economic expansion in the US was upended by orders to close offices to prevent the spread of the coronavirus.
Zoom and other apps have made it possible for staff to collaborate remotely and be as productive as they are in the workplace.