Investors - NOVEMBER 17, 2022

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Office occupiers will see more demand for flexibility

by Loretta Clodfelter

The future of office space is flexibility — but that may not mean a decline in demand. Despite the uncertainty from remote work and a reduction in bank lending for office space causing a liquidity crunch in the space, there may be investment opportunities in the next year or two.

“It’s always challenging to forecast how capital market conditions will change, but for now we believe there are attractive tactical investment opportunities in the office sector, even when using negative economic and remote working assumptions,” said William Pattison, managing director, head of real estate research and strategy at MetLife Investment Management, in an interview with IREI.

“There has been a battle between employers and employees over remote working,” noted Pattison. “If labor markets soften, the balance of power could shift towards employers. This could lead to an acceleration in the return to office.”

One feature of the current investment landscape has b

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