This process is well underway in SF where formerly booming business districts have turned into veritable ghost towns. Winter is coming for commercial real estate.
I'm excited for the Mr Robot-esque urban explorations of these empty business mansions.
They will just flip to housing if they can't find office demand.
Yep. This happened in Calgary back in 2013-16 when oil fell off a cliff and office vacancies skyrocketed. A lot of prime downtown office spaces became either coworking spaces or refurbished into luxury apartments.