Maskot | Digitalvision | Getty images
A version of this article first appeared in the CNBC property play newsletter with Diana Olik. Property Play includes new and developed opportunities for real estate investors, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up To achieve future versions, directly on your inbox.
In the previous year, American companies made more progress in bringing employees back to office at any time since 2020, when the epidemic fundamentally changed the traditional work paradigm. This is according to an upcoming report by CBRE, due to the next week. While some employers are fully remote and some offer hybrid work opportunities, more workers have been pushed to bring back to the office.
Out of 184 companies surveyed by CBRE, about three quarters said that they had completed their presence with 61% last year. Companies monitoring attendance increased from 45% to 69% this year, and people applying attendance policies increased from 17% to 37%. In the survey, companies said that they want employees in the office an average of 3.2 days a week. The actual appearance, however, is slightly less than that.
CBRE global president Manish Kashyap said, “I think it was very loose for last year or two, and I think companies have got much better.” “They are coming up with policies that allow hybrid structures and allow flexibility, but whatever their new policy, their implementation around them, and the rule around it, is definitely much better.”
More companies said that they expect to expand the footprints of their office rather than the contract. Over the years, there has been a huge recession in the development of the office and there has been an increase in adaptations in residential.
The majority of survey respondents, 67% of companies said that they would either put their office footprints in the same shape or expand them by 64% a year ago, within the next three years. For expansion, most trading or headcounts were indicated for development. About one third said that they would reduce their location, below 36% last year and 53% in 2023.
Some companies are hesitant to make long -term decisions in concerns about the economy and tariffs, but with that concern, taking over long -term leases than a year ago, CBRE found.
“You have organizations that have to take clarity and decision at the end, as they have been living in this world of hybrids for so long, and now they know what it really looks like for them, so all the decisions that they have stopped, even though there is some extra uncertainty, are still ready to move forward with some additional deals,” for the global research of Julie Veteran.
Despite the fact that in total, the vacancies of the office are 18.9%, under a 30 -year high of only 19%, about half of the companies involved in the survey stated that they were concerned about the availability of high quality office space over the next three years. This concern is the most important when it comes to prime space, which is only 8% of the total office inventory and is much lower vacancy rate than the rest of the market.
“For many people, the office footprints are now suitable for small but more effective and better partner work. Employers are now very focused, as they were pre-fanflakes on the quality of workplace experience, the efficiency of seat sharing and the vibrancy of the districts, which they are located,” said, “said the Vehlan.
