With increased vaccinations, employees returning to the office also continued to increase.
Office leasing tours were on the rise, indicating that leasing activity will accelerate in the coming months.
While it was still unclear as to what the future holds for the corporate office sector, there did seem to be a trend amongst regional companies that the post-COVID-19 future will lean more toward a hybrid version vs. full in-person or full remote environments.
Drawbacks
For companies that continued to have employees work from home, one challenge they experienced was identifying ways to motivate, interact and reward their workforce.
Many corporate office users have not yet made changes to their office footprint, up or down, as the bulk of leases have not expired. Therefore, it will take many years before it is truly understood what the impact from the pandemic and the dynamic of the work-from-home environment will have on office space.
