Office properties, at least the non-trophy ones, are like a CRE Rodney Dangerfield. They don't get no respect at all.
Not only do they suffer from the uncertainty of work-from-home and hybrid business models battling the traditional sitting in the office five days a week, but there is the specter of obsolescence.
The recent moves that Blackstone has taken with its River North Point property in Chicago are an example that will likely get repeated by others elsewhere in the U.S.
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