As COVID-19 continues to spread, work life is continuing to adapt as work from home or hybrid methods become a reality for many employees. With no clear end to the pandemic in sight, what does the traditional office look like going forward?

One would assume with all the "space available" or "lease now" signs becoming more and more abundant that owners are shifting away from a traditional office workspace. However, the numbers don't say this is the case.

Senior Managing Director at CBRE in Sacramento, David Brennan, said:

Just because it is a fluid situation and lease terms have shortened and they want to make sure that their properties are advertised.

Brennan said shortened lease terms leave a business nimbler if office change is needed. This means advertising more to bring in potential clients for more opportunities for space.

But, what about vacancy? In February of last year vacancy was 12% in our area, 2% above a healthy market, and right now CBRE said vacancy is at 10.7%.

Ian Cochran, a partner at Logic Commercial Real Estate, said "The pandemic has catapulted the investment market in the Reno area. Whether it is industrial, office, retail, multi-family -- across all sectors. They are seeing Reno as a growth opportunity. Buying something today that is going to be worth more tomorrow."

Cochran said it is also about looking forward. What are businesses wanting now that the pandemic is a part of our lives? Brennan said it is about more open workspaces.

Brennan said that now workplaces have to compete with working from home, something Cochran said is all about convenience.

Which, in the office space world, means more communal spaces, shorter term work spaces, and less private offices, said Cochran.

The pandemic changed a lot initially because of the fear of contact, but that fear turned into a convenience that employees like, added Cochran.

Now the more convenient workspace of the future has become a necessity when attracting employees hooked on the more hybrid approach to work.

"You want to be a competitive employer in the office sector so you not only want to provide a safe work environment, but also providing a perk if you will to an employer because we are at an all time low unemployment and the market is very healthy. So it is a bonus to say you can work from home two days a week," said Cochran.

This also means an alteration to work spaces actually in the office workplace, according to Brennan, "We call it hoteling where you can come in and just drop into a workstation and plug in and go and its not necessarily the same one you are going to plug into everyday because you are only coming in once or twice a week."

Despite alterations needed keep the traditional office relevant during and beyond the pandemic, Cochran and Brennan tell us the industrial space market has taken off tremendously as businesses double down on flex warehouse space. Something Nevada is primed for providing.