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.
“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.