In the decade before the Covid-19 pandemic, the amount of office space per worker in the United States shrank steadily – a trend given the charming name “densification”. Saving money was one driver, as was a belief among some employers that denser layouts encouraged interaction and innovation.
Fast-forward to 2023. More than a billion square feet of office space stands empty in the US, at a national vacancy rate of 19.4 per cent, or up from 13 per cent just before the pandemic.
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