Rapidly changing landscape: Commercial real estate and the new perspective

Andrew Phipps
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Andrew Phipps: Global Futurist, Cushman & Wakefield, UK

Corporate Real Estate Journal, 2021, vol. 10, issue 3, 285-294

Abstract: This paper discusses how the commercial real estate industry has been heavily affected by the changes experienced during 2020 as result of the COVID-19 pandemic. Businesses and employees have been unable to work in their regular locations; retail stores and other sectors have been shuttered for extended periods of time; student housing, logistics and warehousing, life sciences have all faced the unknown. The paper stipulates that the future survival of the physical environment hinges on an acceptance that change is needed, that a new approach must be taken. The need to evolve buildings physically has never been as urgent. It discusses how owners have recognised that they must adapt their buildings or increasingly face challenges in attracting and retaining the tenants they want.

Keywords: office; remote; pandemic; workplace; location; culture; values; flexible (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2021:v:10:i:3:p:285-294

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