In August and September 2020, the Savills Technology Practice Group gathered survey responses from several hundred tech tenants to gauge the anticipated impacts of COVID-19 on their plans for office space both in the near term and in a post-vaccine world.

Unsurprisingly, uncertainty is the most prevailing theme among the responses, with regards to space needs, workplace designs, and their organizations’ approaches towards flexible and remote work in the future.

While much remains to be seen based on the hopeful arrival of a vaccine, we are beginning to see several trends emerging:

• EXPECTED DISPOSITIONS:
  55% of respondents anticipate looking to dispose of at least some portion of their space in the next 12-18 months.

• A RISE IN FLEXIBLE AND FULL-TIME REMOTE WORK:
  59% of tenants responded that less than 10% of their workforce was full-time remote pre-COVID-19. When asked what share of their workforce they anticipate working remotely full-time in a post-pandemic world, only 16% of organizations expect less than 10% of their workforce being remote.

• LACK OF CONSENSUS ON FUTURE OF WORKPLACE DENSITY:
  While some organizations expect no change in density planning in a postvaccine world, 34% answered that they will need more rentable square feet per seat going forward.