The future of office demand is in question as companies continue to hold off on expansion plans and growth strategies while COVID-19 vaccine rollouts continue, with some markets reaping the benefits of in-migration patterns while other gateway cities bleed out.
A report on the office sector from Marcus & Millichap shows that while corporate leaders know they'll have to bring workers back at some point, there's little agreement or consensus over when that will be.
"Most employees, particularly younger staff members in the early stages of career development, prefer to return to the office at least some days where they can more easily collaborate, build relationships and be mentored," the report states. "Until the health risks are addressed, however, companies are reluctant to place their employees at risk."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
