September 2020
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September 2020
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Office Spaces in the Post Pandemic World

Tuesday, September 1, 2020

While remote work has become the norm and many offices have shuttered for the time being, recent studies show many employees would like the option to return to a physical office space once it's safe to do so. This has led some business leaders to rethink what these office spaces could look like as traditional work is supplemented with continuing remote employment once the pandemic passes. One option is the hub and spoke model some companies are considering. Under this setup, companies would have one central hub with smaller suburban offshoots. “Many corporate occupiers are saying let's have a downtown hub, and suburban west, east, and north spokes so that people can have their office close to their home if and when they want to go to the office,” says Sheila Botting, president for the Americas at the commercial real estate company Avison Young. This would allow organizations to forgo renting huge office buildings in city centers and opt for much smaller spaces spread out across a city or region. MotoRefi, an auto loan refinancer, is considering this option and thinks this model is more appropriate for the evolving nature of their work. “Our real estate footprint needs are changing and expanding very rapidly,” CEO Kevin Bennett said. “We were just discussing remote and I think we'll be flexible where needed but won't be having a lot of remote-first options, generally speaking. We won't require five days per week, but we like for as many people as possible to be able to get to the office.”

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