SPONSORED: Nuveen Real Estate – Alternative data provides insight into office utilization

Sandwich sales and security-badge swipes, among a host of other nonstandard data points, suggest office use still lags pre-pandemic activity by 20 percent to 25 percent in the United States. London lags by 31 percent to 34 percent, but Berlin, by only 10 percent, according to a sponsored report by Nuveen Real Estate, Phones, sandwich sales and office use, which was published in the July/August issue of Institutional Real Estate Europe. The hybrid work model is changing the metric for what is attractive office space. “The US office market is likely to experience a net reduction in space overall, coinciding with a reshuffling of demand. Newer and more centrally located properties are poised to gain market share, whereas older properties and tertiary locations face obsolescence,” the report notes. To access a pdf of the Sponsored Section,