SIOR Asks: Is This the Great Office Wait or the Great Return?

Real estate executives are trying to determine whether this is a holding pattern or the new normal.

Is the “Great Wait” for things to return to business as usual finally over, or is COVID-19 still rearing its ugly head? Well, that seems to depend on who you are and what your business is. For some SIORs and their service-oriented clients—attorneys, accounts, etc.—things are most definitely at least back to a “new normal.”

Though such pandemic remnants as hand sanitizers and masks can still be found in workplaces around the world, and virtual meetings are likely here to stay, people have returned to their offices (if they ever truly left). On the other hand, larger corporations are moving much more slowly, with many taking a “hybrid” approach when it comes to having their employees in the office. And with the emergence of the omicron variant, some that planned a January re-opening are taking a “wait and see” approach—at least for the short term.

“It’s a changed framework,” says Frank Martin, SIOR, senior associate broker with Hall Associates, Inc.

RSK: Good article on what Commercial Real Estate agents are seeing in leases and in their own offices. Back to a "new normal" or is that "Back to the Future"?.

Ken Notes: The new normal will be defined by profits and the model that best facilitates them...

- - Volume: 10 - WEEK: 20 Date: 5/10/2022 7:21:20 AM -