PURPOSE OF PLACE: HISTORY AND FUTURE OF THE OFFICE

This study is the second in a four-part series that provides a new perspective on COVID-19’s impact on the commercial real estate (CRE) industry and the future of the office. The office is more than just a building – it’s a place where people come together to build connections, collaborate and innovate. The global pandemic has accelerated an evolution of the workplace and forced businesses to reconsider when and how to best use the office in the future, posing the ultimate question: what is the purpose of place?

Key findings include:

• Long-term tailwinds for the role of the office and the generation of office demand remain.
• The post-COVID-19 future will be characterized by organizations determining the right balance of remote work to advance their organizational priorities rather than one that sees a move toward an office-free world.
• The impact of remote work is a matter of magnitude (how often can and should employees work from home) and selection (which employees can and should work remotely most effectively).