It’s no secret that office properties are, on average, struggling more than other property types. With tenants requiring less office space than they did only a few years ago, office prices are down by approximately 50 percent in urban locations, compared to pre-pandemic levels. The main driver behind this trend is now a familiar story – remote ... Read More ›

The rapid and broad adoption of remote work spurred by the pandemic allowed people to work in residential space, instead of office space, at a scale unimaginable just a few years ago. This dramatically reduced the demand for office space, with particularly steep contractions in some markets. While the final depth of this demand contraction remains ... Read More ›

At first glance, converting old office buildings into apartments seems like an obvious solution to two pressing real estate challenges. There’s a national housing shortage of several millions of housing units, and office space is substantially underutilized due to the adoption of remote work. Declining office use is a significant risk to office ... Read More ›