A Real Shift for Commercial Real Estate?
Are you back to work at the office yet? SullivanPerkins, like many companies, is phasing in a hybrid system, where some employees are back in the office every day, some are coming for two weeks on/two weeks off, and some are working entirely from home. Moreover, like many companies, we are reassessing our commercial real estate needs in a post-pandemic environment. In a recent blog post, Green Street’s Director of Research notes that 2021 is a year of “rebound” for commercial real estate, with prices up 8% through July and occupancy rates expected to rise above 90%. However, with more workplaces going hybrid, Green Street expects there to be a 15% drop in office demand versus pre-Covid trends. So, the world of commercial real estate is likely to look a little different in the years ahead. But change in the real estate markets is nothing new. SullivanPerkins has a 30-year track record of helping commercial real estate clients succeed – office, retail, multi-family, mixed-use; our work has included project identity and signage, company and project websites, property marketing and leasing materials, offering memoranda, and more. If you have future needs, take a look at our past real estate experience.