That’s correct, and the board doesn’t want to perceive wastage…so whoever is holding the bucket for entering into the lease will be pushing for mandated returns. This is likely the CEO or COO and so holds huge sway and likely ends up in said mandate being implemented.
My last company entered into a new lease during covid, while also making “the way we work has changed” noises. They then spent millions on the refit. And then were shocked that people weren’t coming in to admire their amazing space they’d just spent millions on.