During declining covid rates nationally, more and more companies say they anticipate expanding their existing office space in the near future.
A new survey released by the Atlanta-based corporate real estate services company CoreNet Global, also reveals that for now a sizable 57% of corporate real estate professionals said they were using roughly the same amount of office space as they had during the spring of 2020, after the pandemic outbreak.
Undoubtedly reflecting the specter of more and more office employees working from home, the survey also shows that nearly 70% of respondents said they were using less office space than before the outbreak of the pandemic.
How much less space is being used varied, with 45% of respondents indicating that they are using up to 10% less space; while a combined 24% said their use of office space had been reduced by anywhere from 10% to 30%.
In the category of planning to use more space, a sizable 28% said they thought their offices in the next one to five years were likely to increase or use up to 20% more space; while a smaller 13% anticipated office space expansion of up to 30%.
In a related finding, the survey, according to a CoreNet Global press release, also indicated that “many corporate real estate managers expect their portfolios to grow over the next five years.”
In that category, 41% of respondents said they expected to increase the amount of office space they are using currently.
By Garry Boulard
