What Does the Future Hold for the Office Market?

[Eli Kantor]

In today's market, many office landlords would much rather walk away from their properties and take a loss than fight to attract tenants and avoid foreclosure. For these owners, the future of office space looks so grim that the best option is to simply give up. What do you think lies ahead for these buildings and their owners?

[Chris Seveney]

@Eli Kantor

It’s going to be a market by market issue. Most Major cities will still fill office space in the future as more people get back to work as you realize while some people may be more productive remotely working in groups and mentoring people has a lot more progress in person

If you bought office in 2018-2020 then I really feel bad for you though as there is a pricing reset for those building owners

[Eli Kantor]

Quote from @Chris Seveney:

@Eli Kantor

It’s going to be a market by market issue. Most Major cities will still fill office space in the future as more people get back to work as you realize while some people may be more productive remotely working in groups and mentoring people has a lot more progress in person

If you bought office in 2018-2020 then I really feel bad for you though as there is a pricing reset for those building owners

Absolutely. I think another element, especially in major cities, will be an attempt to lure tenants through better amenities, competitive rents, and employee-incentives. Will be really interesting to see where this all goes!