What is Happening in the Office Market Amid Delta Option Uncertainty?

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Office operations in July totaled about $ 37 billion. While investment activity remains subdued from pre-pandemic levels, CommercialEdge expects sales to surpass the 2020 record of $ 62 billion in 2021.

Read on: Has the commercial real estate market fully recovered from the pandemic?

“Nationwide, in the Bay Area, LinkedIn paid $ 323.0 million to buy its Sunnyvale headquarters,” the report said. “Surprisingly, a few weeks after this purchase was finalized, LinkedIn announced that employees will be able to work completely remotely on a full-time basis. While this may seem counterintuitive at first glance, it is indicative of a growing consensus among many large companies. Firms believe that even if employees are allowed to work wherever they want, the physical office will remain part of the workflow. ”

With the pandemic delaying most return-to-office plans, several companies have adjusted their return-to-work policies. Many large firms (including United Airlines, Facebook, Alphabet, Northwestern Mutual, Walmart, and Tyson Foods) also require vaccinations for employees returning to their offices.

More details: When he reopens his office, this broker is still weighing the risks.

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