During the various lockdowns, I thought mega-retailers would be under even more price and wage pressure the broad adaptation of e-commerce. Now mega-stores have a new base of customers that perhaps would never have ordered the basics online before this. Amazingly this has been trending with grocery store deliveries. It is an interesting dynamic.
Those Planing to purchase Class A real estate may wish to further deliberate. I’d be looking at how things played out. I know personally of several companies, a marketing office, an accounting firm, and a real estate firm that have decided that they no longer need as much space. Since they were forced into remote options for their employees, most think that some of the jobs can be permanently remoted so to speak. large accounting firms, before lockdown, negotiated leases for an additional floor in the building. following the pandemic canceled those plans and even considered halving the size of their current office. Leaving only enough space for partners, essential employees, and an area for remote workers when they do come into the office conference areas. One of them being a typical board room setup and the other more of an employee meeting area. I think the world has changed over the past 18 months.
The question now is, will it return, or is the ” new normal” permanent?