The Future of Commercial Real Estate: Why the Office Isn’t Dead It’s Evolving
Over the last few years, I’ve heard the same question over and over again from leaders, executives, and innovators around the world:
Is the office dead?
The pandemic forced all of us into the world’s largest remote-work experiment. Many of us were quarantined at home, trying to balance work, family life, and personal responsibilities. In one of my recent conversations with Fahad Shaikh, VP at Colliers specializing in office and healthcare real estate, we dove deep into what the future of office space really looks like and why commercial real estate isn’t going anywhere.
And here’s the surprising truth:
The office isn’t dead. It’s simply evolving.
Remote Work Isn’t the End, It’s the Reset
Remote work proved that people can operate efficiently from anywhere. For many introverted employees and caregivers, working from home created a more comfortable and productive environment than traditional office setups ever did. It opened doors for more diverse talent pools and gave flexibility that previously didn’t exist.
But as Fahad emphasized, remote work alone isn’t sustainable forever.
Collaboration, innovation, creative problem-solving, and culture still thrive best when people come together physically. That’s why the future isn’t remote vs. office, it's hybrid.
A hybrid model blends the best of both worlds: flexibility, productivity, and human connection.
The Office Will Be Great But Different
Post-pandemic office expectations will look nothing like the past. Companies and landlords must rethink space with a focus on:
Fresh air circulation and improved ventilation
Private and semi-private collaboration zones
Cleanliness and health-forward design
Better technology for hybrid teamwork
Social distancing-friendly layouts
Research shows that increased fresh air circulation alone can drive more than $6,500 in productivity value per employee annually, according to a Harvard study. That means the new competitive advantage in real estate isn’t just location, it's wellness.
Rather than disappearing, office demand will shift toward quality over quantity.
Co-Working Isn’t Going Away It’s Transforming
Despite predictions that co-working spaces would collapse, they’re repositioning instead. We’ll see:
More private offices rather than open desks
Modular layouts
Higher hygiene standards
Co-working will continue to support solopreneurs, small businesses, and hybrid teams especially as flexibility remains essential.
Retail Real Estate Is Undergoing a Major Reinvention
While office real estate is transforming, retail is in the middle of a revolution.
Fahad points to trends like:
Ghost kitchens
Cloud kitchens
E-commerce dominance
Small-format entrepreneurial ventures
Digital-first business models are replacing large, traditional storefronts. This shift is enabling solopreneurs to build powerful brands without massive overhead and it’s pushing landlords to rethink the type of tenants they target.
The future of retail is smaller, smarter, and more digitally integrated.
Landlords Must Innovate to Stay Relevant
Increased vacancies mean landlords can’t rely on old models. They need to invest in:
Modern air systems
Touchless technology
Safety and cleaning protocols
Unique value offerings
Those who innovate will thrive. Those who stay traditional will struggle.
Returning to the Office Requires Empathy
One of the biggest takeaways from my conversation with Fahad was this: companies that treat return-to-office as a command-and-control process will fail.
People have different comfort levels and risk perceptions. Leaders need empathy, flexibility, and thoughtful planning. Hiring workplace strategists and creating phased re-entry strategies will be key to success.
Ignoring this reality risks fear, resentment, and cultural breakdown.
The Future Will Be Great Just Different
Commercial real estate isn’t dying, it's transforming into something far more intentional, flexible, and human-centered. The pandemic accelerated trends that were already in motion and forced us to rethink everything from workspace design to employee expectations.
The future of work is:
Hybrid and adaptable
Inclusive and diverse
Health-focused and technology-enabled
Collaborative rather than transactional
For those willing to innovate, the opportunity ahead is massive.
This isn’t a collapse.
It’s a reinvention.
Frequently Asked Questions
Q1. What is the future of office work after the pandemic?
The future of work is becoming hybrid, where people split time between home and the office. Employees get flexibility and comfort from remote work, while offices support collaboration, culture, and creativity. Companies are redesigning spaces to make them more purposeful and human-focused.
Q2. Why are companies still investing in office spaces if remote work is popular?
Many businesses believe innovation happens faster when people meet face-to-face. Offices also help build relationships and teamwork. Instead of huge spaces, companies are now creating flexible environments meant for brainstorming, training, and client collaboration rather than everyday desk work.
Q3. What is a hybrid work model and why is it important?
A hybrid work model allows employees to work part-time from home and part-time in the office. It gives people flexibility, reduces burnout, and still maintains human connection. It’s becoming the most balanced approach for productivity, mental health, and strong team collaboration.
Q4. How is commercial real estate adapting to changes in work culture?
Commercial real estate is shifting from traditional office layouts to flexible, wellness-focused, and technology-enabled spaces. Many buildings now feature better air circulation, touchless tools, private meeting zones, and hybrid-friendly infrastructure to support modern work needs.
Q5. Are remote-only companies more successful than companies using a hybrid model?
Remote-only models work for some teams, but many leaders feel it’s harder to build culture and spark creativity without real-world interaction. Hybrid offers the best balance: independent work from home plus in-person collaboration when it matters most.
Q6. How has the growth of e-commerce impacted physical retail spaces?
E-commerce has pushed retail to transform. Instead of big stores, we’re seeing small digital-enabled spaces, pop-ups, and concepts like ghost kitchens. Retail is becoming more experience-driven and technology-centered, combining online convenience with selective physical locations.
About the Author:
Shawn Kanungo is a globally recognized disruption strategist and keynote speaker who helps organizations adapt to change and leverage disruptive thinking. Named one of the "Best New Speakers" by the National Speakers Bureau, Shawn has spoken at some of the world's most innovative organizations, including IBM, Walmart, and 3M. His expertise in digital disruption strategies helps leaders navigate transformation and build resilience in an increasingly uncertain business environment.