Flexibility is king
Long-term office leases have been the standard for years, as lenders who fund office projects have required developers to lock tenants into long-term leases to mitigate risk. But in the new world of work, predictable cash flow will take a back seat to flexibility, especially in the near-term, as companies seek space that allows their employees the benefits of in-person collaboration or a quiet, dedicated space outside of the home to work while waiting to see what long-term needs they might have once normality returns in earnest.
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