What’s the long term play on commercial Office Space?

[Jonathan G.]

It appears that there will be a slow downward grind over 2024-25 for commercial office space/buildings given the work from home trends that have developed as a direct result of COVID-19. Doesn’t seem like things are going to be changing anytime soon. It seems in many cases, it’s not financially viable to repurpose the space for multifamily, storage, etc. Some cases the land is worth more than the buildings.
It seems we all have hindsight when it comes to the 2008 downturn but what’s the play 10 years from now when we look back on 2024 / 2025?