The Long-Term Impacts Of COVID-19 On The Broader Real Estate Portfolio

The Long-Term Impacts Of COVID-19 On The Broader Real Estate Portfolio


January 2021

Some of the world’s largest technology companies, including Facebook and Google, are allowing employees to work from home until the summer of 2021. Others, such as Twitter, are giving employees the option to work from home indefinitely. Even with Facebook employees expected to eventually return to work, CEO Mark Zuckerberg predicts that 50 percent of the company’s employees could be working remotely within the next five to 10 years. In addition, Larry Fink, chairman and CEO of BlackRock, recently said he doesn’t ever foresee all of the company’s employees returning to the office. With shifts in thinking leading to changing space needs, these scenarios provide a window into the many ways COVID-19 will present increasingly complex real estate scenarios to organizations worldwide. This major shift is evidenced already with nearly one-fourth of the corporate real estate in Manhattan up for sublet.

 

Keywords: Craig Gillespie, Trimble Real Estate, COVID-19 Impact, The LEADER


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