Few companies will slash their office footprints. Or what's needed maybe is a complete reconsideration of workplace strategy. Then again, short-term leases might tank office valuations, affecting investors and future deals.

At this point, there is enormous speculation about the future of the office and lenders looking for certainty. But forget oracles. Instead, look to basic principles and watch what is happening, suggest some experts.

"In Philadelphia, we are seeing companies returning to work in various formats," Pamela Peters Arms, a senior vice president of commercial real estate lending at WSFS Bank, tells GlobeSt.com. "Some are opting for hybrid models, while others are returning to work full-time in person, and others are adopting a more flexible touch-down space model. Due to the variety of ways companies are choosing to work, their needs are also changing, with some companies needing additional space and others perhaps needing less."