Allstate reevaluates office space as work from home policies shift due to the COVID-19 pandemic
In November 2021, Allstate announced it had reached an agreement to sell the property making up the majority of its office space in Northbrook, Illinois to Dermody Properties. The sale is anticipated to close in 2022 and is rooted in the increase in flexibility employees have to work they want due to the COVID-19 pandemic. Many employees continue to opt to work from home if their employer allows for that flexibility. The sale will reduce Allstate’s overall real estate expenses and allow them to further invest in other growth and strategy initiatives.
COVID|Competition|New Activity|ESG|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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