In this article, you'll learn:
- Why some office spaces may become obsolete post-COVID
- How companies may downsize or adopt flexible office schedules
- The potential rise in office relocations to less populated areas
- How office layouts and amenity needs will shift to prioritize health and safety
COVID-19 has impacted all facets of life with ramifications that cut across all industries. The commercial real estate market is no exception. During mandatory stay-at-home orders and lockdowns, companies made quick decisions about how to keep their businesses running outside of office settings. As restrictions ease across the country, businesses are carefully reassessing their needs for office space, and this is likely to lead to dramatic changes to the market. Here are some of the potential impacts: