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Do Amenities, Building Age, and Floor Plans Affect Office Vacancy Rates?
Abstract: The Covid-19 pandemic forced many employees to work from home. While fully remote work isn’t as common, structured hybrid work schedules that require employees to work in the office two or three days a week have become more commonplace. Workers coming into the office less frequently has decreased the demand for office space. The pressure on tenants to populate their office space with workers has increased. In some instances, firms have updated their space to offer highly sought-after amenities to persuade workers to return to the office more often.
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Provider: Federal Reserve Bank of Chicago
Publication Date: 2025-03