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WHAT IS THE FUTURE WORKPLACE?

Through our proprietary Experience per Square FootTM (XSF) tool, Cushman & Wakefield has captured more than 2.5 million data points from workers all over the globe in the pre-COVID-19 era and a further 1.7 million data points from more than 40,000 respondents in the current work from home environment.

Our workplace specialists analyzed this data to give you an inside look into how employees are coping right now – identifying their key successes and critical challenges. With this data, Cushman & Wakefield has developed a report that provides insight into the future workplace.

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WORKPLACE TRENDS ACCELERATED – AND REVERSED – BY COVID-19

Which changes are actual disruptions of the status quo, and which are just accelerations of a pre-existing trend?

We weigh in on the following workplace trends:

  • Working from home
  • Cost as king
  • The return of the suburbs
  • An occupier’s market
  • De-densification
  • Commuting and traveling

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Florida Office Rents Q1 2020

Class A

Shelter-in-place orders and business interruptions did not occur in Florida until the end of March. As such, 1st quarter rents do not reflect any real impacts from COVID-19. Class A direct rents increased to near record highs in several markets based on confidence in demand pre-COVID. Average rent growth YOY in Florida was 2.7%, and average statewide rents were now 16% higher than previous cycle highs.

On an inflation adjusted basis, statewide rents were off by 5.5% from the previous market highs. For most office markets in Florida, the high point for rent this cycle occurred prior to 2020.

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