In this research note, we look at how office has fared throughout the past two years in order to glean clues about what the property type might look like going forward, as Americans have put the harshest (or all?) of the pandemic restrictions behind us.
Our takeaway: There remains plenty of risk for office investors as hybrid work has become entrenched. At the same time, office investing is by no means dead as selective investors can still find plentiful opportunity in the property type. With this in mind, investors contemplating leaving the sector altogether may be giving up potential opportunity for income, total return and diversification across their real estate allocations. See where we believe the opportunities lie.