The Future Of Office Is Evolving

The COVID-19 pandemic has changed the way we work and is redefining the office, according to the Winter 2022 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. Overall, office development and rental occupancy rates should improve as developers begin accommodating the turns they see in the office market. Chris Roeder, Executive Managing Director at JLL, and Mike Kostecka, Real Estate Partner at Allen Matkins, offered insight into these office trends and what they expect to see in the market's future.

1. OFFICE IS NOT DEAD

Workers proved that it is possible to work productively from home, raising questions about the viability of the central office. All indicators, however, show the reverse of this to be true. Companies have recognized the value of bringing their teams together in person. And those that have not already returned to the office will begin to do so, sometimes in phases.