The fundamental changes in office use, given the significant move to work from home, have made it difficult for companies to make long-term decisions on how to operate and for landlords to retain and attract new leases.
Al Pontius, senior vice president and national director of Marcus & Millichap's office, industrial, and healthcare divisions, said in a recent video produced by the firm, said that while the office sector might be struggling today, it definitely will return to being a viable long-term investment.
"It's very nuanced," he said. "There are haves and have-nots. There are issues with older assets and asset formats and submarkets. The composition of winners and losers will be different."
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