Simon Adams Discusses How Pandemic is Reshaping Commercial Real Estate
Simon Adams was quoted in the Law360 article “3 Ways The Pandemic Is Reshaping Commercial Real Estate” (subscription required). The article provides an overview of how in the post-pandemic world, many companies are planning for some employees to return to the office full time, while others are still trying to get a clearer view of what their brick and mortar real estate operations will look like.
Commenting on the issue of space needs for the typical corporate tenant, Simon stated he could "foresee a future where hot desking and shared space becomes the norm in industries that have not done it to date…There is a level of wait and see before people will commit capital to make significant adjustments to the interior of their buildings."
Regarding tenant upgrades he added, “Building services and systems will certainly be upgraded. Some tenants will require it of landlords. Top Class A buildings have already received millions of millions of dollars of upgrades even while people continue to work from home." He closed by saying, “Landlords have already committed that capital, knowing it's going to be required."