Office Space
Office Space
Commercial office space experienced uncertainty during the time of the pandemic; however, it is an asset class performing better than expected. Employers and entrepreneurs alike have returned to an office setting with a few changes focused on comfort making the office space a more productive environment. Although there was certainly an impact due to the pandemic, medical office space and life science remain stable during economic downturns making a strong asset class for investment. Commercial office space will continue to evolve allowing flexibility with 50% or more continuing with hybrid work schedules and some remaining remote. To re-engage with top talent companies are focusing on community and collaboration, a space that welcomes inclusivity. Today’s employees are interested in building relationships, connecting with culture and the mission of the companies. Class A office space that embraces to the changes/trends from corporate America will succeed and will charge a premium/luxury price for the collaborative office space design.
Pros
- 1. Prime location – help establish image as company grows in desirable location
- 2. Flexibility – Renting is ideal as you don’t know if you’ll need to expand or downsize
- 3. Free up working capital – when money isn’t tied up in a purchase you are able to use it for other market opportunities and scaling business
- 4. Attracts new hires and clients – An attractive office space could bring in more employees and give clients impression of professionalism.
- 5. Maintenance and repairs are taken care of – landlord handles repairs and that saves tenant from large expenses.
Office Space Trends 2022
- Biophilic Designs – help establish image as company grows in desirable location
- Comfort of Home in Office – Incorporating comfortable seating, warm lighting, indoor plants, outdoor seating and plush carpeting. These home comforts allow workers to move around and work from different areas when they need a break from the traditional desk.
- Sustainability/eco-friendly/ energy efficient – Energy efficient focus is important with LED lighting and use of natural light as much as possible; it is energy efficient and improves productivity.
- Neutral tones – Focus on neutral colors and natural woods for furniture. Use surrounding landscape, if surrounded by high rises and grey tones, focus on implanting color with chairs, couches, textures, and plants to bring the space some life.
- Emphasis on noise control – Incorporating sound absorbing materials as acoustic partitions. A phone booth or small conference space where employees can go for extra silence to take private calls or meetings.
- Flexible workspaces – Unassigned workstations, casual couches, café area, and other gathering spaces are a must for today’s hybrid work space.
- Transformable workspace – Hybrid space that adapts to telecommuting is the new standard for shared space that welcomes the daily and hybrid employees.
