Companies need to be agile to meet the demands of a changing real estate landscape.
Commercial real estate is undergoing a significant transformation in how and where people work, and this evolution is impacting contact centers. In mid-2023, CoStar reported that there was approximately 200 million square feet of office space classified as contact centers, approximately 60 million square feet of which was available. This availability rate (~30 percent), is above overall market office market averages. The result has benefits for tenants looking for affordable space, but also means tenants looking to shed space also have a far smaller pool of companies looking to occupy underutilized space. Generally, companies with contact center requirements are consolidating and shrinking footprints due to virtual work capabilities and changing technology.
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