Episode #68
Is AI shrinking the office market or growing it?
JLL's Daniel Littman, Senior Director of Office Capital Markets Research, talks about how AI companies are changing the office real estate market. He explains why widespread fears about AI cutting office jobs haven't come true so far, pointing to Jevons paradox and to business applications sitting at a 20-year high. The two also discuss how much space AI companies are leasing. Core AI firms have leased about 15 million square feet, and the wider AI ecosystem about 84 million. Littman then walks through JLL's four-tier office framework, which sorts buildings by when they were built or last renovated, and covers the markets investors are watching most closely. The conversation ends with three strategies for office investors, including the case for building more high-quality office space.
