Arguably one of the biggest trends to emerge from the pandemic has been ‘work from home.’ As we worked to stop the spread of the coronavirus, we logged on to cloud, went to Zoom meetings, and collaborated virtually. And it turns out, workers liked the flexibility and companies liked some of the cost savings. It was a win-win for all parties.
For owners of office buildings, work from home was a kick in the teeth. Vacant buildings equal no rent checks. With that, a variety of market pundits called for the death of offices as we know it.
Well, we may want to rethink that proposition.
It turns out returning to work in an office is quickly becoming the norm once again. While the nature of work is shifting—with work from home being a big part of it—corporations are still looking to rent offices and return the bulk of their workforces to their cubicles throughout the year.
For the owners of office real estate, this could be a big win and return to robust cash flows as the nature of work continues to evolve.
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