Work From Home and the Office Real Estate Apocalypse
·
SSRN
·
Arpit Gupta, Vrinda Mittal, Stijn Van Nieuwerburgh
We study the impact of remote work on the commercial office sector. We document large shifts in lease revenues, office occupancy, lease renewal rates, lease durations, and market rents as firms shifted to remote work in the wake of the Covid-19 pandemic. We show that the pandemic has had large effects on both current and expected future cash flows for office buildings.
Filed under: