High tech has for years been a major source of revenue for the office sector. But changes induced by the pandemic and macroeconomic headwinds are making the real estate practices of the industry far less certain.

Cushman & Wakefield took a look at how high tech and its use of CRE are adjusting. One of the pressures on leasing is the number of people who will need to be placed in offices. Coming out of the initial pandemic responses, tech had taken to working from home, given that much of the activity could be done remotely. Getting back into the office has been slower.

The industry has the lowest office-centric approach of the seven that the Cushman & Wakefield analysis examined, with only 3.13% of companies taking an office-centric approach. It also had the second largest remote first contingent at 28.13%, with only professional and business services rating higher at 28.57%. At just under 60%, tech also has the lowest office flex approach.