Add yet another survey to mix that attempts to decipher how office tenants are thinking about space after the pandemic.
In a survey of 3,115 US office space decision-makers and influencers, BOMA International (in conjunction with Brightline Strategies and supported by a grant from Yardi), 55% of tenants said they were reassessing space needs. That was a decline from 61% in BOMA's Q4 2020 survey.
Forty-eight percent of those respondents likely to reassess needs said they would reduce their square footage. In Q4, 54% said they were reducing space needs. Looking at overall responses, 37% of tenants surveyed said they were reducing space needs. To minimize space, companies were looking at reducing the number of private offices, hoteling desks for flex workers and reducing the size of common areas.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
