A stunning 90% of respondents recently surveyed by Trepp say they think economic occupancy for the office asset class will be less than pre-pandemic levels, a figure that sets the sector behind retail and hospitality.
Of that total, 44% of professionals surveyed in Trepp's 2021 CRE Sentiment Survey also said economic occupancy—not to be confused with physical occupancy—for the office sector would be well below pandemic levels. And 90% also said economic rents would be lower than pre-COVID levels.
Around 80% of respondents said they predict retail effective rents and economic occupancy will be below pre-pandemic levels, while 70% say hotel effective rents will be in that same category.
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