Commercial real estate has a 'shock coming' as return-to-office plans fall short, CEO says

There's a "shock" coming for the commercialized existent property industry, but the opportunities up are huge, according to Mark Dixon, CEO of flexible bureau institution IWG.

Technology enabled a "fundamental seismic shift" successful commercialized existent property arsenic the Covid-19 pandemic forced millions of radical to enactment from location for the archetypal time, Dixon said — and workers don't needfully privation things to spell backmost to however they were before.

"There's this presumption that radical similar commuting into a cardinal concern district. They don't. It's a implicit discarded of clip and wealth and they don't privation to bash it," Dixon told CNBC connected "Squawk Box Europe" Tuesday.

He added that employees are present moving much productively "than they've ever done before."

Dixon founded IWG — formerly known arsenic Regus — successful 1989. Now, it has implicit 3,300 offices crossed 120 countries.

He says "there's a daze coming" for commercialized existent property looking ahead. "Look astatine the United States. You've got immoderate of the largest spot companies successful the satellite handing backmost properties to their bank."

But it's not each atrocious news; Dixon said determination is simply a "real opportunity" for the usage of existent property to change. In fact, helium said that offices successful the aboriginal could really enactment successful a akin mode to state stations.

"They're everywhere, it's a web of petrol stations, [you can] thrust anyplace successful the country. Work volition beryllium similar that. You volition find places to enactment everywhere, we web them each unneurotic and marque them casual to use," helium said.

"We've got specified a immense magnitude of accidental successful the concern we're in."