US commercial real estate suffers as telework becomes the new norm

At the beginning of COVID-19 pandemic telework seemed like a temporary fix for not being able to go into the office. But, new research from The Conference Board shows that less than 30% of companies are prioritizing the return to the office. Julie Whelan (CBRE) of CBRE Global Commercial Real Estate Services says the commercial real estate space is in trouble. 

"Office vacancies in the U.S. are currently at about 18.4% which is a historical high. As a point of comparison, it was about 12% right before the pandemic in late 2019" Whelan said. READ MORE