Empty Spaces: How the Pandemic, and the Economy, Reshaped the Office Commercial Real Estate Market
Former JPMorgan Chase Global Economist & PH.D in Economics
The office building sector accounts for about 16% of the CRE market. During the Covid-19 epidemic, office vacancies rose during the recession as lockdowns were imposed. Elevated vacancies continued as the parametric shift to work-from-home (WFH) gained momentum.
Office Building Vacancies
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