If you own a big office building and companies don't need as much office space then you can't charge as much for rent, and the property loses value. Similar to how online shopping has led to a bunch of malls closing down
"Hello CEO of Awesome Inc, it's me CEO of Rentalz Co. Your people have to return to office so that I can keep collecting the rent".
CEO of Awesome Inc: "No."
CEO of Rentalz Co.: "shucks!"