National + Office | May 17, 2023

Occupiers Get a Handle on Their Post-Pandemic Office Needs

Companies are more proactive this year about office attendance, with 65% saying they’re requiring in-office work at least some of the time, according to a new survey by CBRE of 207 companies with U.S. offices. That’s more than double the respondents that required in-office attendance last year.

However, with steady-state office attendance often lower than pre-pandemic, more companies are shrinking their office footprint to match office attendance patterns. Fifty-three percent of companies expect their office portfolios to get smaller over the next three years compared to 46% that anticipate either no change or expansion.

“Real estate evolves to accommodate changes in human behavior, and we’re seeing that as the office market adapts to hybrid work,” said Manish Kashyap, CBRE global president of Advisory & Transaction Services. “This means greater flexibility in lease terms, more occupiers gravitating to higher quality office space and an increase in adaptive reuse of obsolete buildings.”

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Inside The Story

CBRE's Kashyap

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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