IMPACT ON REAL ESTATE FUNDAMENTALS BY ASSET TYPE
AI Impact Dimension
Office
Logistics & Industrial
Retail
Knowledge-worker employment & space use
Operational throughput & automation
Household income & discretionary spend
What AI primarily drives
Exposure to AI-driven employment shifts
High – demand tied to white-collar job growth
Limited – employment less space-intensive
Low – indirect consumer linkage
Second-order – efficiency flows through pricing & margins
Exposure to AI productivity gains
Second-order – efficiency may reduce space per worker
High – automation directly boosts utilisation
Downside risk if adoption disappoints
Structural vacancy risk
Cyclical demand risk
Supply-limited downside
Outcome uncertainty across AI scenarios
High
Moderate
Low
Near-term softness, long-term lift to demand
Net AI impact signal
Operational upside leader
Stable income support
Source: Cushman & Wakefield Research
Cushman & Wakefield
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