The U.S. and many countries around the globe are steadily moving towards herd resiliency (noted by health experts as 70%+ of the population having immunity and/or being vaccinated). This, mixed with the decline in case numbers and hospitalizations, is giving organizations more clarity around returning to the office over the next few quarters, and February 2022 is expected to be an inflection point in the U.S. The situation remains fluid as we enter the holiday travel season but it is generally assumed that, if there are future waves of the virus, they will be less disruptive than prior ones. As we prepare to enter 2022, occupiers and investors are asking what's next for the U.S. office sector.
Cushman & Wakefield Research answers some of the most frequently asked questions related to:
- Building occupancy: Will employees ever return to the office five days a week?
- Office demand: After a sixth straight quarter of negative absorption, is the office market showing any signs of life?
- Space availability: Is sublease space continuing to be a driving factor for higher levels of vacancy?
- Rents: When will effective office rents rise again?
- Business relocation: Are businesses moving from large expensive cities to small cities due to COVID-19? Are businesses leaving CBDs?