The reality facing office owners has many of them thinking about office-to-residential conversions, a move also echoed by the Biden administration as a way to alleviate the housing shortage.
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"You do see some office buildings right now that over the last 20 years have taken a part of their building like the low-rise and converted it to a hotel," he said.
In less common cases, office owners in places like Los Angeles are pivoting their private buildings to film post-production sets.
AdvertisementMedical offices are also options for landlords, Paynter said.
Persons:
—, it's, Biden, Goldman Sachs, Mike Watts, Watts, Steven Paynter, Paynter, Todd Henderson
Organizations:
Service, Business, DWS Group
Locations:
Watts, Austin, Los Angeles