The first hints of the post-COVID world are beginning to emerge. We may well see in-class education widely available in the Fall, restaurant dining will become increasingly common as we move forward and more workers will return to traditional business settings. As the world begins to return to a new-normal, healthy building and wellness certifications are a hot topic among both tenants and office owners.
The COVID-19 impact on real estate and the greater economy was severe in the past year, but its effect on consumer behavior and the resulting implications on tenant businesses are still playing out. Companies know they must respond to both evolving trends and sudden economic swings, but adapting to a once-in-a-century pandemic is another matter altogether. Smart corporations are rethinking their organizational and operational models to effectively navigate the demands and opportunities of an ever-changing market.
It may seem like the pandemic has left a lasting impression on the U.S. office market with low absorption rates and many employees working from home, but everything isn’t quite as it seems. John Adams once said: every problem is an opportunity in disguise. In this case, we are talking about the opportunity in subleasing.