If past is precedent, the future is more of the same: the market crash of ’87, the dot com bubble, 9-11, the 2007-8 Mortgage Crisis, Hurricane Sandy, Corona virus and a few wars, insurrections, assassinations, revolutions, etc.
With commercial office space, we’ve seen a change from mostly offices to no offices—from isolation to collaboration. For our firm, we like a little bit of both, and we are probably not alone. After, 9-11 there was a surge to space in the suburbs. That pattern may repeat itself here as folks re-think urbanization. However, people will want to be where the action is and we expect a further concentration to cities in the long run.
The economy is based on human capital and the companies that thrive, as always, are those that attract and retain the brightest minds of their era. Real estate can attract those minds and keep them or not.
We are experts in assessing, renegotiating, or recasting real estate leases.