There's a longer tail effect than that. I used to put 100 miles a day on my car, now it's maybe 2 if I go to a couple stores. This isn't just commercial real estate, it's car manufacturers, gas companies, all the service businesses for commuters (parking lots, the starbucks on the corner, all the restaurants near offices), etc.
I don't think that's a bad thing. Anything that means less car usage is a good thing, and as commercial real estate keeps losing demand, those spaces will end up converted to residential real estates in cities with ludicrous housing prices. Work from home is good for workers, for the environment, for residential renters. It's the companies who benefit the most from forced office commutes that are hand wringing.
I don't think that's a bad thing. Anything that means less car usage is a good thing, and as commercial real estate keeps losing demand, those spaces will end up converted to residential real estates in cities with ludicrous housing prices. Work from home is good for workers, for the environment, for residential renters. It's the companies who benefit the most from forced office commutes that are hand wringing.