Commercial brokers are doing everything they can to get employees back to the office. Zoom tours, embracing the idea of flexible workspace – subletting, flexible leases, and making the office a desirable place to be.
Bruce Mosler, chair of global brokerage for Cushman and Wakefield, is confident the office will remain the center of the universe for corporations, with some changes. Technology will play a bigger role. Employees may adapt a flexible working model – office life may never return to full time – but return it will, he insists.
What is largely gone are the commercial lease terms of 10 to 15 years. Whitley Collins, global president for advisory and transaction services at CBRE, comments “The clients are saying, ‘help me think through what I should be doing and tell me what everybody else is doing.” Corporations are looking to one another to find logic in the uncertainty. Short term leases are the most frequent result.
The days of cramming people into dense offices are done as well. Everyone is on the look for wider spaces, more room to distance and have ample amount of air, properly filtered.
And as it typically goes, the social media platform Facebook just acquired 730,000 square feet of new office space – adopting a hybrid model. Will this be the trend for many corporations? It may be.
Contact GE Grace to see space. Call us at 646 312 6800 or email Grace@GEGrace.com.