Commercial real estate vacancies in large cities across North America are hovering around 20% right now, and it’s clear that the “return to offices” trend hasn’t materialized.
In the more extreme case of downtown San Francisco, 31% of all commercial office space is vacant.
A few questions for stackers:
- Will this commercial office space eventually get rented out at a lower price?
- Will this space get converted into some new use case if remote work continues to be a popular option for employees?
- What new use cases should cities explore for re-purposing extra office space?
- Does commercial real estate vacancy pose a significant threat to the strength of the US economy?