Commercial Real Estate in a Post-Pandemic World: Five Years Later
Cushman & Wakefield (NYSE: CWK) has released a comprehensive report analyzing commercial real estate trends five years after the COVID-19 pandemic. The report highlights several key developments:
Cities are experiencing a resurgence, with Manhattan seeing a 9% increase in young population (15-29) during 2022-2023. Class A office leasing in CBDs has returned to 41% market share. The study reveals that employees living within a mile of work show 90% office return rates, while those beyond three miles only reach 70%.
Notable trends include: normalized consumer behavior with e-commerce returning to 15% annual growth; reduced construction across sectors (industrial -17%, multifamily -8% below Q1 2020 levels); and office development declining from 135M to under 30M square feet. The report emphasizes the growing importance of experiential spaces, with two-thirds of urban foot traffic coming from visitors, though only 12-15% of city real estate is dedicated to 'Play' spaces versus an optimal 25%.
Cushman & Wakefield (NYSE: CWK) ha pubblicato un rapporto completo che analizza le tendenze del mercato immobiliare commerciale cinque anni dopo la pandemia di COVID-19. Il rapporto evidenzia diversi sviluppi chiave:
Le città stanno vivendo una rinascita, con Manhattan che ha registrato un aumento del 9% della popolazione giovane (15-29 anni) durante il 2022-2023. Gli affitti degli uffici di Classe A nei CBD sono tornati a una quota di mercato del 41%. Lo studio rivela che i dipendenti che vivono entro un miglio dal lavoro mostrano tassi di ritorno in ufficio del 90%, mentre quelli oltre tre miglia raggiungono solo il 70%.
Tendenze notevoli includono: un comportamento dei consumatori normalizzato con l'e-commerce che torna a una crescita annuale del 15%; una riduzione della costruzione in tutti i settori (industriale -17%, multifamiliare -8% rispetto ai livelli del primo trimestre 2020); e lo sviluppo di uffici in calo da 135 milioni a meno di 30 milioni di piedi quadrati. Il rapporto sottolinea l'importanza crescente degli spazi esperienziali, con due terzi del traffico pedonale urbano proveniente da visitatori, sebbene solo il 12-15% del patrimonio immobiliare cittadino sia dedicato agli spazi di 'Gioco' rispetto a un ottimale 25%.
Cushman & Wakefield (NYSE: CWK) ha publicado un informe completo que analiza las tendencias del mercado inmobiliario comercial cinco años después de la pandemia de COVID-19. El informe destaca varios desarrollos clave:
Las ciudades están experimentando un renacimiento, con Manhattan viendo un aumento del 9% en la población joven (15-29 años) durante 2022-2023. El arrendamiento de oficinas de Clase A en los CBD ha vuelto a un 41% de participación de mercado. El estudio revela que los empleados que viven a menos de una milla del trabajo muestran tasas de retorno a la oficina del 90%, mientras que aquellos que están más allá de tres millas solo alcanzan el 70%.
Tendencias notables incluyen: un comportamiento del consumidor normalizado con el comercio electrónico regresando a un crecimiento anual del 15%; una reducción en la construcción en todos los sectores (industrial -17%, multifamiliar -8% por debajo de los niveles del primer trimestre de 2020); y el desarrollo de oficinas disminuyendo de 135 millones a menos de 30 millones de pies cuadrados. El informe enfatiza la creciente importancia de los espacios experienciales, con dos tercios del tráfico peatonal urbano proveniente de visitantes, aunque solo el 12-15% del patrimonio inmobiliario de la ciudad está dedicado a espacios de 'Juego' frente a un óptimo del 25%.
Cushman & Wakefield (NYSE: CWK)는 COVID-19 팬데믹 이후 5년 동안 상업용 부동산 트렌드를 분석한 종합 보고서를 발표했습니다. 이 보고서는 여러 주요 발전 사항을 강조합니다:
도시들이 부흥을 경험하고 있으며, 맨해튼은 2022-2023년 동안 15-29세 젊은 인구가 9% 증가했습니다. CBD의 A급 사무실 임대는 시장 점유율 41%로 돌아왔습니다. 연구에 따르면, 직장에서 1마일 이내에 거주하는 직원은 90%의 사무실 복귀율을 보이는 반면, 3마일 이상 떨어진 직원은 70%에 불과합니다.
주목할 만한 트렌드로는: 정상화된 소비자 행동으로 전자 상거래가 연간 15% 성장으로 돌아옴; 모든 부문에서 건설 감소(산업 -17%, 다가구 -8% 2020년 1분기 수준 대비); 사무실 개발이 1억 3천5백만에서 3천만 평방피트 이하로 감소했습니다. 이 보고서는 체험 공간의 중요성이 커지고 있음을 강조하며, 도시 보행자 트래픽의 3분의 2가 방문객에서 발생하지만, 도시 부동산의 12-15%만이 '놀이' 공간에 할당되어 있는 반면 최적의 비율은 25%입니다.
Cushman & Wakefield (NYSE: CWK) a publié un rapport complet analysant les tendances de l'immobilier commercial cinq ans après la pandémie de COVID-19. Le rapport met en lumière plusieurs développements clés :
Les villes connaissent un renouveau, Manhattan ayant enregistré une augmentation de 9 % de la population jeune (15-29 ans) entre 2022 et 2023. La location de bureaux de Classe A dans les CBD a retrouvé une part de marché de 41 %. L'étude révèle que les employés vivant à moins d'un mile de leur travail affichent des taux de retour au bureau de 90 %, tandis que ceux situés à plus de trois miles n'atteignent que 70 %.
Parmi les tendances notables, on trouve : un comportement des consommateurs normalisé avec le commerce électronique revenant à une croissance annuelle de 15 % ; une réduction de la construction dans tous les secteurs (industriel -17 %, multifamilial -8 % par rapport aux niveaux du premier trimestre 2020) ; et un déclin du développement de bureaux, passant de 135 millions à moins de 30 millions de pieds carrés. Le rapport souligne l'importance croissante des espaces expérientiels, avec deux tiers du trafic piétonnier urbain provenant de visiteurs, bien que seulement 12-15 % de l'immobilier urbain soit consacré aux espaces de 'jeu', contre un optimal de 25 %.
Cushman & Wakefield (NYSE: CWK) hat einen umfassenden Bericht veröffentlicht, der die Trends im gewerblichen Immobilienmarkt fünf Jahre nach der COVID-19-Pandemie analysiert. Der Bericht hebt mehrere wichtige Entwicklungen hervor:
Die Städte erleben eine Wiederbelebung, wobei Manhattan im Zeitraum 2022-2023 einen Anstieg von 9% der jungen Bevölkerung (15-29 Jahre) verzeichnet. Die Vermietung von Büroflächen der Klasse A in den CBDs hat einen Marktanteil von 41% erreicht. Die Studie zeigt, dass Mitarbeiter, die innerhalb von einer Meile zum Arbeitsplatz wohnen, eine Rückkehrquote von 90% aufweisen, während diejenigen, die mehr als drei Meilen entfernt leben, nur 70% erreichen.
Bemerkenswerte Trends sind: normalisiertes Verbraucherverhalten mit einem Rückkehr zum jährlichen Wachstum des E-Commerce von 15%; reduzierte Bauaktivitäten in allen Sektoren (Industrie -17%, Mehrfamilienhäuser -8% unter den Werten des ersten Quartals 2020); und der Rückgang der Büroentwicklung von 135 Millionen auf unter 30 Millionen Quadratfuß. Der Bericht betont die wachsende Bedeutung von Erlebnisräumen, wobei zwei Drittel des urbanen Fußverkehrs von Besuchern stammen, obwohl nur 12-15% des städtischen Immobilienmarktes für 'Spiel'-Räume vorgesehen sind, im Vergleich zu einem optimalen Wert von 25%.
- Class A office leasing in CBDs recovered to historical 41% market share
- Manhattan experienced 9% growth in young population (15-29) during 2022-2023
- Reduced construction pipeline suggests potential future supply shortages, benefiting existing property values
- Two-thirds of urban foot traffic now comes from visitors, indicating strong demand for commercial spaces
- Office development declined significantly from 135M to under 30M square feet
- Industrial construction dropped 17% below Q1 2020 levels
- Multifamily construction decreased 8% below Q1 2020 levels
- Only 70% office return rate for employees living more than three miles from workplace
Cushman & Wakefield releases report examining current trends and behavioral changes
Cities are "cool" again
“The pandemic forced a dramatic reevaluation of how we use and value the built environment and commercial spaces,” said David Smith, Head of Americas Insights. “While some changes have reverted to pre-2020 norms, others have become permanent fixtures in how we live, work and play.”
Key Trends Shaping the Future
Cities Are Rebounding
After an initial exodus, cities are experiencing a resurgence, particularly among younger demographics. Multifamily occupancy rates returned to and even exceeded pre-pandemic levels by late 2021.
The Commute Remains a Challenge
Remote and hybrid work models continue to impact office attendance, with proximity playing a major role in workplace participation. Employees living within a mile of their workplace are returning to the office at over
Consumer Behavior is Normalizing
Many pandemic-driven changes in consumer habits—such as the surge in e-commerce and the decline in restaurant and travel spending—have stabilized. While online shopping spiked by
A Slowdown in New Construction
Higher interest rates, material inflation, and labor costs have curbed new development across all sectors. Industrial and multifamily construction pipelines have dropped below Q1 2020 levels by
The Experience Economy is Expanding
A key takeaway from the report is the increasing importance of experiential spaces in urban environments. Two-thirds of foot traffic in walkable urban centers now comes from visitors rather than residents or employees. However, only 12–
Looking Ahead: Reimagining Cities for the Future
The findings emphasize the need for cities and real estate developers to create more balanced portfolios that integrate living, working and experiential spaces. Mixed-use developments that prioritize convenience, social engagement and entertainment will be key to urban success moving forward.
“As cities continue to evolve, the commercial real estate sector must adapt by designing spaces that foster community and experience,” added Smith. “Investors and developers who embrace these changes will be best positioned for long-term success.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of
View source version on businesswire.com: https://www.businesswire.com/news/home/20250402988846/en/
Media Contact:
Mike Boonshoft
212-841-7505
michael.boonshoft@cushwake.com
Source: Cushman & Wakefield
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