{ "media_type": "text", "post_content": "I'm still wondering why the commercial real estate sector hasn't collapsed. Two years in it's clear WFH is here to stay-at most I could see some companies implementing a hybrid schedule. Regardless, the real estate footprint will be much smaller.\n\nAre building owners just trying to keep up appearances by maintaining high rents? It doesn't make sense to me. \n", "post_id": "61e878a7ae18ee002ceb3eb8", "reply_count": 10, "vote_count": 8, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

I'm still wondering why the commercial real estate sector hasn't collapsed. Two years in it's clear WFH is here to stay-at most I could see some companies implementing a hybrid schedule. Regardless, the real estate footprint will be much smaller. Are building owners just trying to keep up appearances by maintaining high rents? It doesn't make sense to me.

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Companies are still locked into long term leases. The funds are still flowing to landlords.

likesmart

^ EY is correct, commercial leases are in decades, rather than annual renewals

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Ditto to eyp, those are usually 10 year leases, and only extraordinary circumstances can release them from that. I don’t remember all of them but most were natural disaster or terrorism exceptions. Guess a pandemic doesn’t count 🤷🏾

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I don’t think that statement is correct at all - many/most of the big companies have expressly stated they want employees back in the office as soon as it’s safe to do so

I don’t think that’s a factor tbh. Those companies doing that, of which I work at one, are absolutely bleeding people because of it. Too many companies out there not forcing people back in so you have to think those that are will have to adapt

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Potential for adaptive reuse - has been going on for a while now, right?

Yeah it makes a lot more sense then just letting the buildings sit there.

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Part of the crowd. The briefcase doesn't show in post details though.

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Comment on this to test rereply notif

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Post for push testing

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Still not seeing location in the post window when turning it off.

Post for comments

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