Some companies are slashing how much space they rent as remote work becomes a permanent fixture. Others take a hard line on requiring workers to return.
It came as a revelation to executive Sheldon Lewenfus that workers at his healthcare management company performed their jobs well at home after the pandemic forced them to retreat from their offices in Woodland Hills last year.
The pandemic-imposed disruption of the nation’s vast office rental market is in early stages, and coronavirus mutations such as the highly infectious Delta variant add to the uncertainty. “I think quite candidly that COVID has advanced us 10 years into the future because I wouldn’t have ever seen downsizing space and having employees work from home, but that’s sort of where it’s going,” he said. Other healthcare companies are considering similar moves “because it seems to be working.”
Aquent will go from having about 200,000 square feet of offices to 24,000 feet, maintaining its computer hardware in a Seattle building for security and a small office in suburban Boston where the company is based and records are kept. Its remaining unwanted leases expire this year, Bloom said.Real estate broker Greg Lovett of Cresa, who represents MedPoint, stands in the future executive suite for healthcare services provider MedPoint in Sherman Oaks.
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