Apr 4, 2024
The office sector of commercial real estate faces several hurdles before a full recovery takes place. Hurdle one: work-from-home that is sticky and part of today's work culture. Hurdle two: A.I. is forecasted to grow in the workplace displacing jobs. Hurdle three: the federal governement occupies very little of its leased office space, as low as 14% in some markets. The federal government leases over 350M square feet. When will the government give back office space to the private sector?
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