As companies embrace hybrid models, many are considering cutting back on space –

Signs remind members to use face masks in common areas at Back Office Studio, 13 E. Washington St. in Ann Arbor on Tuesday, July 7, 2020.Jacob Hamilton
Many businesses are considering closing some of their office space in the next six months, according to a new survey.
The survey of 1,250 businesses by found 39% of surveyed companies said they were considering closing some of their additional office space within the next six months – a decision fueled by desires to cut costs and the rise of remote work.
If companies follow through with those plans, it could have significant implications for the commercial real estate sector, as well as retailers, restaurants, city centers and local governments, among others.
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