Rethinking Real Estate Space: Commercial Offices Post COVID

With many employees working from home while the world tries to adapt to COVID-19, the idea of the “workspace” might change.

A new survey found that 35% of new remote employees would like to permanently work from home. Of the 35%, a majority would like there to be a hybrid option (85%) – working in the office two days a week and working from home three days a week. 7% said they wanted to work from home just one day a week.

So what does this mean and look like for commercial spaces in the future?

Some experts are predicting that satellite offices will open in suburban communities. These potential spaces can help cut down on public transportation and minimize the amount of people working in one space.

Real estate agents also agree that with the average lease term for commercial spaces usually seven years, and only 14-15% of tenant leases ending at the same time, the worry of many vacant retail spaces happening at one time likely won’t happen.

As for what the future holds in commercial real estate – experts aren’t quite sure. But with the “traditional” 9-5 desk job quickly changing, we’re sure to see spaces change too.

For more real estate news, take a peek at Alliance Title’s Blog.

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