A new survey from BOMA International has found that 55% of tenants are reevaluating their office space needs in the future, a dip from the 61% revealed in BOMA’s Q4 2020 survey.
The survey of 3,115 U.S.-based office space decision-makers revealed that 37% of tenants would be cutting down on their space, another fall from the Q4 survey which noted that 54% would reduce their footprint.
“While this indicates the potential for nearly 4 in 10 tenants to consider some reduction—demanding attention from owners and operators—the numbers are trending toward more stable space utilization,” according to BOMA.
A similar survey from CBRE revealed that 9% of companies have plans to cut down their office portfolios, a drastic decrease from last year’s 39%.
Even more, the Spring 2021 Occupier Survey revealed that 85% of respondents anticipate employees to spend at least half of their time in the office.
BOMA’s survey also finds that 62% of respondents believe the past year will transform how they do business.