Even before the global pandemic landed on our shores 12 months ago, the business model for commercial office space was already seeing deep fissures. While there was a high demand for spaces for companies and teams to work together as we move through 2019, less of this than one would imagine was for traditional office space.
As to the nature of office leasing demand itself, it has decreased close to 70% from December 2019 to February 2020. It would be naïve to believe that even a majority of that demand will return when workers across the United States return to some form of a new, more permanent normal.
