The Office Market After COVID: Will It Be a Zero-Sum Game?
There are three basic scenarios for how office tenants might respond to the pandemic.
April 22, 2020 | Jahn S. Brodwin | National Real Estate Investor
With so many employees working remotely right now, will the demand for office space bounce back once the U.S. fully opens for business again? Given the magnetic forces at work that are both repelling and attracting tenants, the office market is caught between favorable and unfavorable outcomes in the short, medium and long term.
It’s possible that it will balance out to a zero-sum game, as an argument can be made either way.
Demand could increase
Demand will be for more office space as many people, thirsty for personal interactions and “water cooler moments,” will want to get back to the office. And, given that social distancing guidelines could remain in place for the foreseeable future, more physical space will be required around employee work areas.
