Feature Post

Office real estate back to normal, in 2025: Cushman & Wakefield

The coronavirus remote work experiment will become a permanent trend, but at some point, employees will return to the office in numbers that match the past. When? It could take five years, according to a new forecast from Cushman & Wakefield.

Global office vacancies will not return to their pre-Covid peak levels until 2025 and, in all, a net 215 million square feet of office vacancy will have been lost due to the pandemic, according to the outlook from one of the largest real estate services firms in the world. Between Q2 2020, when Covid-19 hit the U.S., and Q3 2021, the net negative office square feet damage will reach 95 million square feet, roughly 10 million square feet more than the financial crisis trough.  

The situation will be the worst in the West. During the financial crisis, Canada, Europe and the U.S. recorded a combined loss of 120.5 million

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Hot Property: Comic Kathy Griffin seeks a Bel-Air sale

Kathy Griffin is staging a sale in Bel-Air, putting her gated Mediterranean mansion on the market for $15.995 million. That’s about $5.5 million more than she paid for it four years ago.

The Emmy-winning comedian kept things mostly the same during her stay, as the 13,377-square-foot home features grand living spaces with dramatic beams, pocketing doors and a host of balconies. The largest of the balconies extends from the primary suite, adding 1,100 square feet of space overlooking the surrounding mountains.

A gated driveway approaches the property, leading to a two-story entry with oval windows and wrought-iron accents. From there, arched doorways give way to common spaces such as a formal dining room, a dual-island kitchen and a family room with a wet bar.

Other amenities include a bonus room, wine cellar, movie theater and an office with a fireplace. Eight bedrooms and 12 bathrooms complete the floor plan, which

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Home of the Week: Going top shelf in West Hollywood

Perched atop the new Pendry Residences West Hollywood, this nearly completed terrace estate offers the five-star treatment with curated interiors and exterior amenities such as a private terrace and spa. Designed by Martin Brudnizki in collaboration with Ehrlich Yanai Rhee Chaney Architects, the showplace-in-the-sky features honed marble finishes, eye-catching fixtures and walls of windows that take in the cityscape. For a night in, forget DoorDash; owners have access to the adjacent Pendry hotel’s amenities including new restaurants by Wolfgang Puck.

Location: 8430 Sunset Blvd., Unit 803, West Hollywood, 90069

Asking price: $13 million

Built: 2020

Living area: 2,827 square feet, three bedrooms, 3.25 bathrooms

Exterior space: 2,908 square feet

Features: Panoramic views; designer finishes; custom built-ins; private terrace with full kitchen; fire pit; hot tub

About the area: In the 90069 ZIP Code, based on 13 sales, the median price for single-family homes in July was $2.55

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