The labor issues are most acute in high-demand cities, such as Miami, Orlando, Austin, Phoenix and Nashville.

There has been a 15% increase in the use of office space for collaboration during the pandemic.

The labor shifts that began before the pandemic intensified during the health crisis, but as some cities recover, others are not yet there.

"There is all of this interest and capital that's looking to be invested in the space, but there aren't that many platforms out there that the capital can be allocated to."

As companies downsize, look for them to find cost savings, even if they start leasing "spokes."