According to Hessam Nadji, CEO of Marcus & Millichap, the embrace of hybrid work arrangements will lead to growing demand across most asset classes.
Despite companies leaning more towards distributed workforces and smaller real estate footprints, the desire to have more multi-use space is anticipated to lead to an increase in demand.
Over the next 12 to 18 months, Nadji predicts that demand for all real estate assets, from office spaces to warehouses, will see a spike.
“The recovery magnitude is so big and the reinvention of the economy and the uses of real estate is also profound, offsetting some of the drag,” said Nadji.
Because of this, Nadji adds that property owners are looking to partner with tenants to find the best possible workplace solutions, while occupiers are trying to identify spaces dedicated to collaboration and teamwork.
Workers in particular want to have access to office spaces that can be used when needed, but don’t require attendance every day of the work week.