Office Real Estate Market
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https://www.axios.com/2023/03/29/office-real-estate-is-getting-kind-of-ugly
One of the shoes yet to drop, but about to, I suppose.
During COVID, we all knew offices became very under utilized. But the office real estate market has not imploded in any spectacular fashion supposedly because most office space leases are long term multi-year deals. More and more of these deals are coming up for renewals. Starting to notice the popular press covering it more.
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@89th said in Office Real Estate Market:
I believe in Minneapolis there's a big move to convert lots of the space into housing.
I wonder how that would go. In a lot of office buildings, there is a lot of "interior" space, that I would not think would convert well to housing. Pretty much most people would not want to live in a apartment/condo that does not have any windows.
Maybe with technology today, you could have a "virtual window" that would show real time view of outside.
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They're planning to demolish the office where I work this August and replace it with an 800 million dollar mega-modern thing. I can't imagine them letting us work from home once this is done.
I'm not particularly happy about this, particularly as they're sticking us in temporary offices until it's done.
