The talk of CEOs earlier this year was brave and strong. Labor Day would be it. Workers had to return. Productivity, innovation, and the future of corporations were at stake. Just like Labor Day in 2022. And, like then, there has been no sudden and drastic change.
According to the Kastle Barometer of office occupancy, the average continues to hover around 50%. The spread is, from the top in the Houston metro, about 60% and drops to just over 40% in San Jose.
How do you describe the position of office property owners wondering when the other shoe will drop and suddenly result in a massive exodus? Indigestion. The lack of knowledge, the uncertainty, has to be beyond frustrating. The situation makes it impossible to plan.
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