Unprecedented Levels of Federal Office Space Underutilization Raise Concerns
Allwork
APRIL 24, 2024
According to a report published by FedWeek , the Public Buildings Reform Board submitted a report to Congress last month revealing that the median occupancy rate of many federal headquarters has plummeted to a mere 30% of pre-pandemic levels. This dramatic decline in office space utilization is rocking commercial real estate markets in major metros and is largely attributed to the widespread adoption of telework (remote work/hybrid-related) policies in the post-pandemic economy.
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