With Offices Sitting Empty, Landlords Are ‘Handing Back the Keys’

Since the pandemic began, office employees showed they could get their jobs done from home, and many have been reluctant to come back.

At the same time, companies realized they could save a lot of money by renting less office space.

About 23 percent of office space in the United States was vacant or available for sublet at the end of November, according to Avison Young, a real estate services firm, compared with 16 percent before the pandemic.