Exec: Once-in-a-Generation Opportunity for Office

Office is a plummeting disaster that has no future, and the sky is going to fall. But is it? Is everyone who was in an office going to work from home constantly and never return? Or will companies get everyone to come in at least two or three days a week and then realize they need someplace to simultaneously put them all?

Don Peebles, chairman and chief executive officer of Peebles Corporation, told CNBC in a interview, “We’re an opportunistic company, so we look to develop when markets are supply-constrained, and then we like to buy when we think there’s tremendous value. And what we’re seeing here in the commercial office space is essentially a once-in-a-generation opportunity to buy. Nothing like this has happened since the early 1990s, when we had the banking crisis that resulted in almost 900 banks being closed in less than three years.”