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Special Report

Office National Report

4Q 2022

New Habits Change the Landscape for Offices;
Recovery Likely to Extend into Next Economic Cycle

Future of office space demand still evolving. The COVID-19 pandemic has fundamentally altered how many people interact with the office. The rapid, widespread adoption of remote work has now given way to a nuanced workplace return. While some large firms, such as Tesla and Goldman Sachs, have pushed for full in-office work weeks, other major companies — including Microsoft, Apple and Target — have formalized hybrid schedules. Some organizations, like Amazon, are leaving the decisions up to individual teams, or are embracing virtual environments, as Allstate has done. Overall, businesses are pursuing a broad spectrum of strategies, many of which are still in flux, that will have nuanced, long-lasting impacts on office space demand.

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