Poised for a comeback? Office landlords prepare for return-to-work and changing expectations for the workplace
One of the big unanswered questions following the COVID-19 pandemic is exactly how significantly the great work-from-home experiment could shake up the urban office market. Although some are still waiting for the other shoe to drop in terms of dire consequences, others are more optimistic that the death of densely populated urban centers is greatly exaggerated.
“We’re bullish on the long-term demand for urban office space because it’s where the talent is concentrated and where the fresh talent largely wants to work,” says Keren Eichen, director, Real Estate Services at Unico Properties. People have gravitated to the live-work-play lifestyle that cities offer, not to mention their proximity to affordable housing and transit options that employers need to support their workforce. “The pandemic didn’t change this,” notes Eichen. In addition, as more companies focus on sustainability, they are aware that suburban office has a significantly greater carbon footprint t