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<div class="passle-featured-image passle-featured-image-position-top"><img src="https://images.passle.net/fit-in/400x400/filters:crop(0,490,1911,1071)/Passle/5f6edd8e8cb62a0bec3e5fd2/SearchServiceImages/2026-06-08-19-04-03-725-6a271223ae6190232060842e.jpg" alt="Featured Image" /></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Real estate continues to evolve, not because demand has disappeared, but because how space is used has changed. In a recent conversation I had with </span><a href="https://www.michaelbest.com/people/john-wiggen/" target="_blank" rel="noopener noreferrer"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Jack Wiggen</span></a><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">, several clear themes emerged from what we are seeing across commercial real estate deals, leasing activity, and development projects.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Together, these insights point to a market that is adjusting with intention and creativity.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Here are five key takeaways organizations should keep in mind.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><h3 style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>1. The Office Is Back, but Only for High-Quality Space</strong></span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></h3></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Organizations are returning to the office, but selectively.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Over the past year, there has been a noticeable increase in commercial office leasing. However, the demand is focused almost entirely on high-quality space. Location, amenities, and aesthetics now matter more than ever.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Office space is no longer just a place to work. It has become a recruiting tool. Companies want spaces that help attract and retain talent, whether that means proximity to restaurants and shops or simply a more impressive and functional environment.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">This shift rewards landlords and tenants who think strategically about how space supports a company’s broader goals.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>What this means:</strong> Investing in quality space is increasingly tied to talent strategy, not just square footage needs.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><h3 style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>2. Adaptive Reuse Is Creating New Opportunities</strong></span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></h3></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">One of the most significant trends in the market is the reuse of older or underutilized properties.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Vacant grocery stores, former pharmacies, and outdated office buildings are being reimagined as breweries, fitness centers, churches, and other community-oriented uses. These spaces often offer strong visibility, parking, and location advantages that remain valuable despite shifts in retail or office demand.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Economic changes have accelerated this trend, creating opportunities for creative redevelopment rather than leaving prime real estate dormant.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>What this means:</strong> Flexibility and creativity are unlocking value in assets that may have been overlooked five years ago.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><h3 style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>3. Real Estate Decisions Are Increasingly Tied to People, Not Just Property</strong></span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></h3></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">From both a corporate and legal perspective, real estate is no longer viewed solely through a traditional operational lens. It is deeply tied to </span><span class="TextRun SCXW99606532 BCX8 NormalTextRun ContextualSpellingAndGrammarErrorV2Themed" lang="EN-US">workforce</span><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"> strategy.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Organizations are asking new questions. Do employees need a place to gather? What environment supports collaboration? How does space reflect company culture?</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">This mindset shift is influencing leasing decisions, build-out priorities, and long-term planning. Real estate is being used intentionally to support how and where people work.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>What this means:</strong> Real estate strategy and talent strategy are becoming inseparable.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><h3 style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>4. Buyers Are Using More Thoughtful Risk Planning</strong></span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></h3></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">On the transactional side, purchase and sale agreements are evolving. Buyers today are more focused on contingencies, approvals, and timing flexibility than they were even a few years ago.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">This reflects tighter financing conditions and a desire to manage risk carefully. While contingency planning used to be limited to larger deals, it is now common in smaller transactions as well.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">The result is a more thoughtful approach to due diligence and deal structure, with both parties spending more time upfront clarifying expectations.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>What this means:</strong> Well-structured deals prioritize clarity and risk management early, rather than scrambling near closing.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><h3 style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>5. Early Planning Leads to Smoother Outcomes</strong></span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></h3></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Across leasing and purchasing, one consistent theme stood out. Involving experienced advisors earlier in the process tends to lead to better results.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Early coordination allows potential issues in due diligence, financing, surveys, or operational needs to surface before they become time-sensitive problems. Even when advisors are not actively leading every step, visibility and context matter.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">This approach often results in smoother closings, fewer surprises, and more predictable outcomes.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>What this means:</strong> Thoughtful timing and early collaboration can reduce friction and improve efficiency.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><h3 style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US"><strong>A Market That Is Adjusting, Not Retreating</strong></span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></h3></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">The real estate market today reflects adaptation, not contraction. Companies are using space more intentionally. Developers are finding new life in existing assets. Buyers and tenants are approaching deals with greater clarity around risk and value.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">Organizations that stay flexible, plan early, and align real estate decisions with broader business goals are well positioned to succeed in this evolving landscape.</span><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="EOP SCXW99606532 BCX8">&nbsp;</span></p></div><div class="OutlineElement Ltr SCXW99606532 BCX8"><p class="Paragraph SCXW99606532 BCX8" style="margin-left: 0"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">If your organization is reassessing its real estate strategy, the full video provides additional insight into how these trends are shaping decisions today. Watch the complete conversation for a deeper look </span><a href="https://www.youtube.com/watch?v=qacSHgiQwtc&amp;t=1s" target="_blank" rel="noopener noreferrer"><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">here</span></a><span class="TextRun SCXW99606532 BCX8 NormalTextRun" lang="EN-US">.</span></p></div>

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