BUFFALO, N.Y. — ​Data from the Commercial Real Estate Agency of Buffalo (CBRE) states that more than 17% of offices in the nation are vacant. This is an issue that cities are facing as many people have switched to remote or hybrid work since the onset of the COVID-19 pandemic.

As lease holders and businesses grapple with commercial rent payments for empty spaces, Susan McCartney, director of Buffalo State University’s Small Business Development Center, said this can be an opportunity to get creative.

"We can’t moan and cry and say, 'well, next year we’ll fill that space near," McCartney said. "I think we should be looking at strategies that maybe optimize to the best of your ability the current conditions we’re looking at."

She said empty commercial spaces can be re-purposed into residential spaces, mixed use buildings, event spaces, or short-term leases for smaller companies. She added that remote work gives companies a global talent pool for hiring.

Realtor James Wangelin said an excess of commercial spaces for rent could drive prices down for business owners who seek a cheaper monthly payment.

"Say, if I was a landlord, I’d rather set maybe, you know, $2,000 less a month in order to rent out rather than let it sit vacant," said Wangelin.

Entrepreneurs looking for more information for their business can contact the Buffalo State University Small Business Development Center at (716) 878-4030.