• While the pandemic created an abrupt drop in office-occupying employment early in the year, recovery has been swift, especially compared to the Great Financial Crisis.
  • Significant work-from-home strategies were announced in 2020 by local and national companies, pointing toward a secular shift that will dampen the office recovery to some extent although the severity is not yet known.
  • Life sciences will prove to be the most significant driving factor of office recovery while transforming the supply side much like shifting demographics had done for downtown office conversions to multifamily during the past ten years.