Commercial real estate embraces virtual work (includes video story)

The COVID-19 pandemic has had a significant impact on commercial real estate in South Florida. Thousands of companies evacuated their office spaces to work remotely. Some canceled their leases and planned to move forward permanently to virtual work, while others used the pandemic as a growing opportunity. 

Companies like Global City Development rapidly adjusted to the change. Its leadership decided to plan for the future. Although workers are still remote, the firm is planning to expand its office space — believing this will play a huge role in the future. 

Other businesses, like Colliers International, have also noticed an increase in office-space leasing. South Florida is close to South America and has low taxes; therefore, other businesses in New York and California are moving. Colliers leadership believes in-person meetings are more beneficial than remote ones. 

South Florida was a vacation hub but has turned into a permanent home for some companies since COVID struck. The commercial real estate future looks like it’s heading in the right direction. Many offices are vacant now, but companies will likely welcome employees back into the office soon. 

Jasmonque Bernardin is a senior FIU student majoring in Broadcast Journalism. She plans to take her talents and skills and create an empire that will break barriers in fashion media.

Sergio Meso is a media professional with extensive experience as an on-camera talent, digital journalism, media production and storytelling. He is seeking a Bachelor's in Communications focused on Broadcast Media at Florida International University-School of Journalism and Mass Communication.

Melissa Charria was born in Miami but raised in New York, she is currently attending FIU and studies Broadcast Media with a minor in Marketing. She enjoys video production and being on camera as well. She is a passionate and positive student who is looking forward to finishing her degree and putting her work out in the field.