According to a recent survey conducted by CBRE, there has been a notable shift in the portfolio strategies of office-using companies. After focusing heavily on contraction due to the pandemic, many companies are now turning their attention towards expansion. The survey, which gathered responses from 225 businesses with offices in the U.S., Canada and Latin America, revealed that 38% of these companies plan on increasing their occupied space within the next three years. This is a significant increase from last year’s figure of 20%. In contrast, only 37% of respondents reported planning to reduce their portfolio requirements – down from 53% in the previous year – while another quarter expect no change.
The results also highlighted an interesting trend among some businesses who may have downsized too much or experienced growth since implementing remote work policies. These companies are now facing challenges accommodating employees during peak attendance days when everyone is expected to be present at the office.
CBRE global president for advisory & transaction services Manish Kashyap commented on this shift: “An increase of eighteen percentage points compared to last year’s figures shows that more and more businesses are looking towards expanding their office footprints again.” He added that this positive outlook bodes well for an industry that has faced numerous obstacles over recent years.
In conclusion, it seems like many office-using companies are readying themselves for growth once again after navigating through challenging times brought about by COVID-19 restrictions and changes in workplace dynamics.
