As part of our first look at the CrowdStreet 2021 Investment Thesis, Chief Investment Officer Ian Formigle and Director of Investments Anna-Marie Allander Lieb shared their outlook on office and where we see opportunities for investors.
Office space utilization currently averages around 15% nationally, but as COVID vaccine distribution ramps up we expect to see office move into a post-pandemic phase in Q3 or Q4 of 2021. However, as more companies adopt flexible policies, we anticipate a 10–15% drop in utilization compared to pre-COVID levels. Anna-Marie and Ian discussed their insights into the new normal for office, including:
- What factors they’ll be looking for in Class B assets for successful repositioning;
- Why life sciences and first-ring suburban office space will be attractive opportunities going forward; and
- Which markets are ripe for big growth in office in 2021 and beyond.
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