Before the coronavirus pandemic, office rents in San Francisco and Oakland had reached all-time highs and developers couldn’t keep up with demand for space. Now, the trend toward working from home has forced many companies and workers to rethink where and how they work, which could have profound implications for the real estate market. A few businesses have already shelved expansion plans. Still, some experts argue that relying on Zoom meetings and remote work has its limitations and companies will again fill office towers and campuses once it’s deemed safe. In this hour of Forum, we dive into how the coronavirus pandemic could reshape the future of the office market and the future of work.
How the Pandemic Could Reshape the Office Real Estate Market
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Salesforce Tower is seen from above in downtown San Francisco, California on February 6, 2019. (JOSH EDELSON/AFP via Getty Images)
Allison Arieff, editorial director, SPUR
Michael Covarrubias, chairman and CEO, TMG Partners
Colin Yasukochi, executive director, CBRE Tech Insights Center