Key Takeaways
- Remote work has reduced office demand by 15-20%, creating a Class A vs. B/C performance bifurcation.
- E-commerce growth to ~16% of retail sales drives industrial demand but is normalizing as massive new supply delivers.
- Last-mile logistics facilities command premium rents but require specific building specifications.
- Necessity-based retail (grocery-anchored centers) has proven resilient while enclosed malls continue declining.
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Test Your Knowledge
1.By approximately how much has remote/hybrid work reduced office demand nationally since 2020?
2.What building specifications do modern industrial tenants require?
3.What has happened to e-commerce as a percentage of total retail sales?