Things will simply evolve. People said the same thing about industrial buildings in cities which are now thriving residential complexes. Lord and Taylor’s flagship store in Manhattan went bust and was going to become a WeWork, then when WeWork imploded the building was bought by Amazon and will become their offices. There won’t be a “property apocalypse” but there will be a “property evolution.”
In cities with diverse economies and a strong talent base this evolution happens quite quickly. Elsewhere it happens more slowly, and thus it’s more painful, but it will eventually happen there too.
In cities with diverse economies and a strong talent base this evolution happens quite quickly. Elsewhere it happens more slowly, and thus it’s more painful, but it will eventually happen there too.