Future of the office market, Part 2: Which of Montgomery County’s office districts are best positioned to win the region’s post-COVID office space race?

Future of the office market, Part 2: Which of Montgomery County’s office districts are best positioned to win the region’s post-COVID office space race?

A Third Place blog from the Planning Department offers three possible scenarios for the post-Covid world of office space. It appears the Pike District ought to be rooting for the hub and spoke office model.

Scenario 1: The regional center best withstands an overall drop in office demand while the decline of suburban office parks accelerates. Submarkets in Montgomery County that would benefit: None, but Bethesda is likely the least negatively affected.

Scenario 2: Firms adopt the ‘Hub & Spoke’ office model Submarkets in Montgomery County that would benefit: urban submarkets (Bethesda, Silver Spring and portions of North Bethesda) It is likely that firms pursuing this strategy will want some level of urban amenities for these satellite locations. Within Montgomery County, office submarkets that offer transit access and elements of the urban amenities enjoyed downtown but with closer proximity to suburban workers—such as Bethesda, Silver Spring and the Pike District—might see increased demand. More suburban submarkets like Germantown, Gaithersburg, or Rockville, which are dominated by office parks with fewer amenities, might continue to struggle.

Scenario 3: The revival of the suburban office park Submarkets in Montgomery County that would benefit: suburban markets (Germantown, Gaithersburg or northern Rockville).

Amy Ginsburg

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