By Ashley Fahey | Phoenix Business Journal
As much as 1.4 billion square feet of U.S. office space could become functionally obsolete by the end of the decade.
That’s according to a new analysis by Cushman & Wakefield PLC (NYSE: CWK), which examined which categories of office space could become outdated in the coming years. When factoring in the national office market’s natural vacancy — 13% before the pandemic — the decade could end with 330 million square feet of excessive vacant office space, according to Cushman.
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