White Paper: Office Sector Investment in a Pandemic Recession

By Christopher C. Rising

“So if our employees are in a role and situation that enables them to work from home and they want to continue to do so forever, we will make that happen.”

- Jack Dorsey, CEO of Twitter (and Square), May 12, 2020.

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Dorsey’s statement sent office sector investors into a panic. One email at a San Francisco–based software company with fewer than 5,000 employees globally has convinced REIT analysts and CIOs that investment in core, core-plus, value-add, and opportunity office assets will no longer satisfy asset allocation strategies and may produce the biggest losses of the post-COVID-19 world.

In this white paper, Chris discusses the rationale behind why offices will change but also why they will never go away.