Health and safety in an office environment
In the COVID-19 era, asset management will be an important differentiator among office landlords, as health and safety concerns become paramount.
Office owners will be able to “add value through asset management and engineering teams,” says Pamela Boneham, managing director and head of capital strategies at Barings Real Estate. She says investors should be aware of how strong asset management can minimize the impact of the pandemic on office asset valuations.
“We anticipate several lasting changes due to the pandemic and how real estate use has been shifting for some time,” says Chuck Schreiber, CEO at KBS. He predicts increased cleaning of common areas, social-distancing signs and the increase of airflow into the office will continue so tenants can feel more comfortable returning to work.
As we have learned more about how the virus spreads, health and safety precautions have achieved more clarity. Air purification, and air quality in general, for exampl