OUTLOOK
CENTERSQUARE : OFFICE SPACE SEEN ADAPTING
CenterSquare Investment Management LLC is a real asset manager focused on listed real estate , private equity real estate , private real estate debt and listed infrastructure investments , accessed via U . S . -only and global strategies . As of December 31 , 2020 , it manages approximately $ 12.1 billion in assets on behalf of institutional and private investors .
Finally , office will not face long-term structural headwinds from remote working . While we all will enjoy more flexible work environments and might work from home or some other remote location more often in future , office space will have to remain flexible to adapt to changing usages . A prolonged and material reduction in office space usage beyond the current recession is unlikely .”
Joachim H . Kehr , Portfolio & Regional Manager Asia-Pacific , shared his views on the various real estate sectors .
“ Beyond accelerating existing trends , we don ’ t believe that Covid has materially altered the outlook for real estate markets . Retail in markets like Singapore and Australia is currently benefitting from easing lockdowns and stimulusfunded consumers , but the threat of e-commerce to brick and mortar retailers has increased over the past 12 months . The fortunes of retail assets catering to discretionary spending remain bleak if not bleaker than pre-Covid .
On the flipside , the secular tailwind that propelled logistics and data centers prior to Covid has strengthened over the past year . These sectors offer little investment upside in the near-term , given they will not benefit from an economic reopening as much as others , but longer-term , their prospects remain very much intact .
Office Space Source : Photo by Benjamin Child on Wunderstock
Manhattan , New York Source : Photo by Oliver Niblett on Unsplash
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