A recent study calculated that about a fifth of U.S. office space was vacant at the end of last year. What is the fate of all this empty real estate?
Across the United States, empty office buildings are leaving once-bustling downtown areas with less foot traffic and are forcing experts, residents and officials to figure out what exactly will happen with these vacant structures.found that about a fifth of U.S. office space was vacant as of the end of last year. The vacancy rate varies, with cities like Los Angeles, Houston and Cincinnati hovering around 25% and cities like Savannah, Ga., and Naples, Fla., coming in under 5%.
"One is we expect to see job growth accelerate when we head into 2025 and beyond and that office-using industries in particular will take up a disproportionate share of new jobs that are created," he said. Zoom is just one company on a growing list that is veering away from remote work by bumping up weekly mandatory days in the office for employees. Some other companies have started requiring employees to move near office hubs and have begun eliminating fully remote positions.
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