Cushman & Wakefield CEO expects growing economy to make up for remote work-related office declines

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APR 23 2021 – Cushman & Wakefield CEO Brett White on Friday offered a positive long-term outlook on the commercial real estate market, telling CNBC he expects a booming economy to compensate for companies that trim their office footprint due to an embrace of remote work.

“As we think about the immediate near term … we’re looking at about a 10% to 15% reduction in demand of office space,” White said in an interview on “Closing Bell.”

“But it’s important to remember that over the next two to three years, that will be fully mitigated by the creation of new jobs that the U.S. economy and the global economy will produce,” added White, who has led the global commercial real estate firm since 2015.

Read more at source | CNBC