Office properties, at least the non-trophy ones, are like a CRE Rodney Dangerfield. They don't get no respect at all.
Not only do they suffer from the uncertainty of work-from-home and hybrid business models battling the traditional sitting in the office five days a week, but there is the specter of obsolescence.
The recent moves that Blackstone has taken with its River North Point property in Chicago are an example that will likely get repeated by others elsewhere in the U.S.
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.
