May 5, 2020
Larry Fink Sees More Remote Work Hampering Commercial Real Estate
By Annie Massa
BlackRock Inc. Chief Executive Officer Larry Fink said the work-from-home revolution will have lasting effects, including pushing down demand for commercial real estate.
Fink said that after businesses were forced to run from mostly remote setups during the coronavirus crisis, many companies will choose not to bring all their workers back to the office even when it is safe to do so.
More at source... https://www.bloomberg.com/news/articles/2020-04-23/fink-sees-more-remote-work-hampering-commercial-real-estate
Commentary points:
*Dense population centers are a risk for transmission of communicable disease. Returning to work in many areas involves increased risk.
*Social Distancing in an office setting depends on two variables- people and space.
*The technology used during the COVID-19 Work From Home (WFH) Baptism by fire has proven effective.
*Utilizing technology and a centralized service model to support remote talent can provide for a prestigious corporate address with lower cost.