Lessons In Building Out Modern Offices In Historic Buildings

Lessons In Building Out Modern Offices In Historic Buildings

While many office professionals will remain remote into 2021, eventually companies will bring employees back to their workplaces for collaboration, to boost company culture, and to regain a separation between work and home. In the meantime, work continues in many office build-outs, including those in historic buildings that present the unique opportunity to blend history and modernity.

Office Market Out Of Kilter Until 2025, Cushman & Wakefield Predicts

Office Market Out Of Kilter Until 2025, Cushman & Wakefield Predicts

The recovery of the U.S. office market from the impact of the coronavirus pandemic and recession is going to be a slow process, likely stretching beyond 2024, Cushman & Wakefield predicts in a new report on the future of office space worldwide.

The recovery might be slow, but the pandemic doesn't necessarily mean the end of established patterns of office space use.

"Even though the impact of work-from-home trends will slow the office market recovery, the overall growth in office-using job sectors along with many other factors — including agglomeration, culture/branding, and productivity — indicate that the office will continue to play an important role in the economy going forward,” Cushman & Wakefield Global Head of Forecasting Rebecca Rockey said in a statement.

The report predicts that the U.S. office sector will lose about 145M SF of office occupancy in 2020 and 2021 as the result of the economy losing a net 1.7 million office jobs. As of Q2 2020, the office sector has already lost 23.1M SF of occupied space nationwide, with negative absorption continuing for at least another 18 months.