COVID-19 has thrown a huge curveball at the office leasing market, which was already adjusting to some radical new realities. Leases are shorter, users want more flexibility, and amenities often drive deals. The better the food options, the conference space, the opportunities for recreation and fitness, accommodations for pets and bicycle riders, the more likely the lease.
Toss in coronavirus, and the world becomes an even more radically different place. Now, landlords have to figure out whether demand for six feet between bodies is a secular or cyclical development, likely to be forgotten in a couple of years when COVID is a memory. And, they have to figure out what amenities will appeal to tenants in a post-COVID world. A lot of people remember how, post-9/11, companies didn’t want to be on a high floor, but years later, high floors were in demand
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