The effects of the new coronavirus on commercial real estate will be long-lasting, as restaurants close, retailers file for bankruptcy and companies that occupy office space rethink their entire workplace strategies and work remotely from home said Mr. Merabi.
Previous health-related downturns have been brief and followed by relatively quick recoveries, but the amount of time it will take for the economy to rebound from the coronavirus is less predictable.
In the last few years the workplace trends have evolved, And over the last decade post the great recession the office suites multi rooms gave way to cubicles, which lost favor to open concepts without walls one open space, just like 17 years when Michael Bloomberg became the mayor. He created city hall as one open space so all his deputies and him work in a WORKSPACE, which set a trend.
It was by millennial’s that the workplace bringing the unique points of a brand to life throughout the workplace can transform a humdrum office with far reaching benefits for employees and organizations, this was true until now. The newest spaces are smaller offices that most companies are wanting to prevent the spread of COVID-19 in the work space among their employees.The big companies are looking beyond COVID-19 and are adopting new workflows as they adjust to a world where many of their employees will work.
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This Article/s Published April 3, 2020 LA, has been Updated & posted at 2:01 PM PCT, April 4, 2020.