Survey: Office Demand Resilient Amid Stress
Physical workspaces are vital, but 61 percent of tenants are likely to reassess their space needs, according to a major new study by BOMA International, Yardi Systems and Brightline Strategies.
December 2, 2020 | Greg Isaacson | Commercial Property Executive
Nearly three-quarters of office tenants believe that in-person workspaces are vital to operating their businesses, but many are reassessing their space needs, according to a major new survey tracking the impact of the pandemic on office decision-makers across the country.
Commissioned by the Building Owners and Managers Association (BOMA) International, underwritten by Yardi Systems Inc. and developed by Brightline Strategies, the COVID-19 Commercial Real Estate Impact study flags the widespread economic challenges faced by office users, but also the way that many building owners and operators have successfully adapted and met their tenants’ expectations during the crisis.
“The demand for office space, generally speaking, is still pretty strong, even amid this global pandemic,” said Michael Broder, president & CEO of Brightline Strategies, a research and advisory firm focused on the real estate industry, in an interview with Commercial Property Executive.
