As the office real estate sector continues to evolve in the wake of the pandemic, industry leaders and investors are closely analyzing trends that will shape its future. David Bitner, executive managing director of global research at Newmark, offers a comprehensive assessment of the sector’s challenges and opportunities, providing insights into what lies ahead for office markets.
The pandemic brought unprecedented disruption to office markets worldwide, particularly in the United States, by accelerating the adoption of remote and hybrid work models. “The pandemic presented an unprecedented shock to office markets across the globe, particularly in the United States, by rapidly accelerating the adoption of remote and hybrid work across industries,” said Bitner. “While behavioral norms have increasingly solidified into a new equilibrium, firms have not yet fully adapted their office portfolios.”
