Brett White, CEO of global commercial real estate services giant Cushman and Wakefield, sees some bad times immediately ahead for office space, though he expects that to reverse with new job creation.
"We're very optimistic with the signs … that we're seeing in the marketplace right now," White told CNBC in a recent television interview. He pointed to increased "transactional velocities" and market activity, all dependent on vaccination levels or a lack of Covid-19 cases in countries like Australia and New Zealand.
As of last fall, C&W found office space demand to decrease by 30% more during the pandemic than the 2008 Great Financial Crisis.
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