The once-declining U.S. office market is experiencing a revival, and if predictions from real estate insiders are correct, a full-blown office space shortage is just around the corner. In his latest piece, “NYC Office Shortage? Any Day Now,” Bruce Stachenfeld, aka The Real Estate Philosopher®, makes a compelling argument: fears around the future of the office are rapidly shifting to opportunity, and the supply of desirable space is drying up faster than most anticipated.

At Bell Works, we see the writing on the wall and have been planning for this shift for years. With forward-thinking campuses in Holmdel, NJ, Chicagoland, and the upcoming Fort Monmouth location, Bell Works is uniquely positioned to meet the demand of businesses reembracing physical office space. 

As companies nationwide rethink their real estate strategies, one thing is becoming clear: it’s not about having any space; it’s about having the right space.

A Short Squeeze in the Making?

In the article, Stachenfeld draws an intriguing comparison between the NYC office market and a “short squeeze” in the stock market. His point: when supply perception flips from excess to scarcity, it creates a sudden surge in activity and competition.

We’re already seeing signs:

• Leasing volume is increasing: Manhattan office leasing rose 24.4%, according to GlobeSt.
• Repurposing is shrinking supply: Older, outdated office buildings are being converted to residential or alternate uses, reducing the available inventory.
• Return-to-office is accelerating: More businesses are requiring in-office attendance, with cultural and career pressure pushing workers to comply.
• Mid-tier tenants are jumping in: Organizations that held back are realizing waiting might mean missing out altogether.

All these dynamics point toward a coming office space shortage, especially in prime locations with desirable amenities.

Office is Not a Four-Letter Word

The Real Estate Philosopher isn’t alone in his belief that the narrative around office is swinging back to bullish territory. What seemed like an “office apocalypse” post-pandemic is proving to be an overreaction. As Stachenfeld writes, “The rumors of the demise of office have been greatly exaggerated.”

Yes, demand for gray, uninspired office towers is waning. But modern, flexible, community-oriented spaces? They’re in demand like never before.

That’s exactly what Bell Works delivers.

Bell Works: Designed for the New Era of Demand

As businesses scramble for the remaining high-quality inventory, Bell Works campuses offer an unmatched combination of flexibility, functionality, and culture.

Holmdel, NJ: The Original Metroburb

Bell Works Holmdel transformed the historic Bell Labs building into a thriving ecosystem of work, play, and community. Featuring coworking, private offices, retail, dining, wellness, and even event space, Holmdel offers more than just a workplace—it’s a destination.

With New Jersey businesses increasingly pushing for return-to-office, Holmdel is becoming a safe bet for companies that need dynamic office space solutions without the stress of Manhattan pricing.

Chicagoland: Suburban Power, Urban Energy

Located in Hoffman Estates, Bell Works Chicagoland taps into the growing need for suburban office hubs that don’t sacrifice experience. As Chicago’s commercial real estate market warms up again, Bell Works is helping lead the way with flexible space for teams of all sizes—from startups to regional HQs.

The campus format also offers the breathing room and lifestyle balance that post-pandemic workers crave, all while still providing all the bells and whistles of a top-tier office environment.

Fort Monmouth: Coming Soon

The next evolution of the Bell Works model, Fort Monmouth, is already generating buzz. As remote work trends recalibrate and demand for suburban office space rises, Fort Monmouth is perfectly timed to meet the market where it’s headed.

This location promises not just another set of offices but another complete Metroburb, fully equipped to meet the expectations of hybrid workforces and quality-conscious companies.

Why “Office Space Shortage” Is the Next Big Search Term

Let’s talk SEO for a moment. Google Trends is already showing upward movement for phrases like:

• “office space shortage”
• “return to office trends 2025”
• “best suburban office space”

As the fear-driven headlines about office collapse fade, tenants are looking for credible solutions and spaces that offer value and experience. This is the exact scenario Stachenfeld outlines: once the perception shifts, the competition heats up.

And perception is already shifting. From Wall Street to mid-sized firms, companies want to:

• Be back in the office
• Attract and retain talent
• Invest in long-term real estate solutions

But not every office space will do. They’re seeking dynamic environments, premium amenities, and room to grow.

Sound familiar? That’s Bell Works.

Headwinds to Tailwinds

In NYC, landlords are no longer desperate. And across major metro regions, we’re seeing the same pattern: landlords are regaining leverage, concessions are disappearing, and rents are increasing.

This means one thing for tenants: now is the time to act. As Stachenfeld puts it, “The parties that had office space and held off are realizing they better get moving.”

And for forward-thinking companies, Bell Works offers a proactive answer to the coming office crunch.

A Final Word from The Real Estate Philosopher

Before claiming full vindication, Stachenfeld humbly notes that while he was right about the trajectory, his timing may have been a bit early. But even a “B+ with grade inflation,” as he says, puts him ahead of the curve.

The truth is, those who recognized the opportunity early (and invested in building better office environments, as Bell Works did) are now reaping the benefits.

As he concludes, “NYC office is a solid place to be seeking investments where one might be Overpaid For Risk.” The same applies nationally, especially in projects where the infrastructure, flexibility, and culture already exist.

Ready to Secure Your Space?

Whether you’re a growing startup or a corporate team realigning your real estate strategy, the time to move is now. Bell Works has the modern office space and Metroburb amenities that businesses need to thrive in a changing market.

Explore our locations:

• Bell Works Holmdel
• Bell Works Chicagoland
• Bell Works Fort Monmouth (Coming Soon!)