Each day we come across someone whose company has veered towards work-from-home indefinitely or at least until the beginning of 2021. Does this mean that the office space has become obsolete now? The answer is absolutely not. The market has seen a change in trend of the working arrangement at the workplace. With more than half of the workforce performing their job responsibilities remotely over zoom calls, the office market is the biggest question mark that everyone has at the moment. To keep up with the demand, it is of the essence that this area of commercial real estate needs to be recalibrated. The incessant need for incorporating conscious features that prioritize health in the workplace can either be met by upgrading the present office or relocating to a new building altogether.

The spacing out of the employees in terms of the square footage required by an employee has been reduced by half over the last few years. Now this trend will see a reversion as social distancing has become a second nature to humans due to this pandemic. This sub-conscious effort to maintain a safe distance at workplace would need to be addressed with ample space for movement. However, it will vary on the respective companies’ present working policies and office area.

The new buildings to be constructed in the near future will need to incorporate touchless entries and a greater number of elevators to prevent overcrowding. The focus will be on air quality and common areas. The overall purpose would be to make everyone feel safe even at the workplace. Contrastingly, it may be cumbersome for the 30 or 40-year-old building to adapt to these new requirements. One way to deal with the situation at hand would be to retrofit the building as soon as possible.

While the market is still fazed by new challenges everyday most of which are instigated by Covid-19, it is an opportunity for landlords as well as tenants to reflect on their requirements. It would be unscrupulous to declare a winner or loser solely on the basis of the age of a building. Ultimately, it is about the requirements from the working standpoint and the spaces that catch the eye and fires up the brain.