• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

PRESSLED

Your Leading News Source

PRESSLED
Your Leading News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • US
  • Meet the Reporters
  • About/Contact

Post-COVID commercial real estate trends

May 14, 2021 by Staff Reporter

Joe Bealmear, a shareholder at the Polsinelli law firm, outlined seven trends to watch

ST. LOUIS — Experts agree commercial real estate will be a far different market post-pandemic. What will it look like?

Joe Bealmear, a shareholder at the Polsinelli law firm who advises on the acquisition, financing, development, leasing and disposition of office space, outlined seven trends to watch.

1. “Hoteling” of office space by one tenant. Some companies have announced plans to stagger the use of space by their employees, with employees alternating days in the office. “It remains to be seen whether these are temporary arrangements or permanent arrangements and how well employees, who may be used to controlling and decorating their own workspaces, will feel about this arrangement,” Bealmear said.

2. Space-sharing by multiple tenants. Even pre-pandemic it was not unusual for medical providers such as dentists and optometrists to enter into space-sharing arrangements, with one medical provider using the office on certain days or hours, and another provider using that same office at other hours or days. The arrangement allows them to share expensive medical equipment and work out of multiple offices across a metropolitan area to better reach their patients. “There is some question as to whether, post-pandemic, this concept will spread to non-medical office space. That said, most commercial office leases would prohibit this arrangement without the landlord’s prior consent,” Bealmear said.

3. Rethinking of open-concept office design and amenities. The trend before Covid was toward workplaces that allowed for more social interaction and collaboration, with an emphasis on larger community areas and more amenities such as coffee bars, ping pong tables, putting greens and more. The conventional wisdom was that these sorts of amenities were necessary in order to attract, engage and retain younger employees. Covid health concerns interrupted the trend. “Will the fear of having to shut down expensive community areas convince companies not to install them? Or, once we are fully in a ‘post-Covid’ world, will the pent-up demand from people looking for social engagement carry over into the office space and spark a renewed arm’s race for these amenities?” Bealmear said. 

4. Effect on overall demand for office space and associated retail. “There has been much discussion about companies shifting to a permanent work-from-home model for a substantial part of the workforce, and how that model might then affect both office buildings and the retail occupants that rely upon the presence of those office workers,” he said. 

Click here for the full story.

Originally Appeared On: https://www.ksdk.com/article/news/local/business-journal/post-covid-commercial-real-estate-trends/63-cf185b58-eb34-4182-9d6d-c89e46f4d677

Filed Under: REAL ESTATE

Primary Sidebar

More to See

Entrepreneurs mourn loss of Tech Nation

The UK tech community has reacted with an outpouring of shock and sadness upon learning that Tech Nation, the entrepreneur network that has supported … [Read More...] about Entrepreneurs mourn loss of Tech Nation

Live news updates from February 1: Fed lifts rates 0.25 points, Eurozone inflation slows sharply

© APFedEx will cut more than 10 per cent of its global leadership team, adding to the more than 12,000 employees it has shed over the past seven … [Read More...] about Live news updates from February 1: Fed lifts rates 0.25 points, Eurozone inflation slows sharply

N.J. town votes to let redevelopment of former Lord & Taylor site move forward

The Westfield Town Council voted 7-1 on Tuesday to introduce an ordinance that allows for a downtown redevelopment plan to move forward.It will next … [Read More...] about N.J. town votes to let redevelopment of former Lord & Taylor site move forward

Privacy Policy | Terms and Conditions | About/ Contact
Copyright © 2023 · PRESSLED · As Amazon Associates we earn commissions from qualifying purchases · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT