Expand or Contract? Ramifications of Coronavirus on the Office Market

As city officials, governors, and federal health officials issue guidance regarding social distancing efforts to curb the spread of the Coronavirus Disease (COVID-19), many offices have been shuttered, forcing employees to work from home. According to a poll completed by Change Research and CNBC, more than 42% of respondents in Arizona, Florida, Michigan, North Carolina, Pennsylvania, and Wisconsin are working from home because of office closures and social distancing guidelines, while about 9% indicated they were already working from home prior to the coronavirus outbreak.