Despite widespread predictions that the COVID-19 pandemic would put an end to office buildings, construction has persisted — albeit at a reduced rate. While ground was broken on 86.4 million square feet of new supply in 2019, the number dipped to 58.4 million in 2020 and […]
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As two tumultuous years closed for the office sector and return-to-office plans were upended by new variants and case surges, millions of workers remained in remote or mostly remote setups. And, while the average office vacancy rate climbed across top U.S. markets, one segment continues to […]
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Images of office buildings usually portray those in a city — dense, glass-covered skyscrapers in the heart of a metropolis. But the majority of office buildings built in the last 20 years were actually in the suburbs. Using data provided by CommercialEdge, COMMERCIALCafé compared where office […]
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In summer 2021, the office market was gearing up for a much-anticipated return to the office in the fall as a result of widespread optimism owing to efficient COVID-19 vaccine rollouts and falling case counts. However, the emergence and subsequent ascent of the delta and omicron […]
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COVID-19 revealed to the world that work is no longer a place we go – it is an experience we shape. Returning to the office as it used to be may seem pleasantly simple, but that would leave a historic opportunity on the table. Far deeper […]
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The world of real estate has experienced an unprecedented level of disruption. There are changes to traditional service and business models, changing expectations of the workplace, and a heightened imperative to focus on safety, health and wellbeing. Touchless technology, social distancing sensors and other tools are […]
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As the coronavirus pandemic turned from a concern to a global threat earlier this year, it was clear that the commercial real estate industry would undergo changes. Companies suddenly entered a forced work-from-home experiment, and both tenants and landlords were uncertain about their future leasing needs. […]
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Last March, office workers around the globe quickly packed up their desks and re-opened the next morning as a remote workforce. Adrenaline was high and the expected timeline was short, but denial soon turned into acceptance as risk management teams began strategizing on the future of […]
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Ever since American office buildings emptied out at the beginning of the COVID-19 outbreak, CRE professionals have puzzled over how a pandemic might fundamentally change the nature and value of existing workplaces. Seven months into mid-pandemic business operations, a lot of industry research is now revealing […]
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Companies have been moving from traditional office space with private offices to open office space for much of the past decade, leading to substantial declines in the amount of space occupied per employee. According to a Fall 2017 article by Adrian Ponsen in NAIOP’s Development Magazine, […]
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