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With more businesses implementing return-to-office mandates and adding more teeth to those they have in place, some of the country’s best-known companies are doing something large enterprises don’t like to do: They’re reversing course.
It’s not the full-fledged return to the office that many landlords and brokers have in mind as they mark the fourth Labor Day weekend — annually pointed to as a date by which workers will come back to their desks — since the pandemic cleared out offices in early 2020. It is instead a trickle of companies that abandoned office space in the last few years changing their minds.
“At a macro level, we've seen office shrinkage over the last four quarters, but when you get to the micro level, companies may have shrunk their portfolio too quickly or specific offices too much, and they're now rethinking how much space they need,” Cushman & Wakefield Global Head of Occupier…
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