The amount of office space allocated for each employee continues to fall. Below is a graph and a short description why from Of Interest Today. While we all know it is happening, how does it affect landlords, tenants and investors? Depending on your perspective, you get massive differences:
Owners: Issues with parking shortage, not enough A/C to cool all the heat from the additional people, electrical shortage, floor load issues, plumbing issues, and ingress/egress problems.
Investors: Placing bets on the types and locations of properties that will be able to withstand all these changes over the next 10-year hold period.
Tenants: How do we compete for talent? How are we disrupting our business to make way for all the technological and millennial changes coming to our employees and our clients?
The good news is Andrew and I are thinking, and living, these questions each day. Call us anytime for some seasoned wisdom.
P.S.- We are proud to announce that we have brought our 8th building to over 90% leased within the last 12 months. To see some of our other case studies, please click here to visit our website.
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Source: Of Interest Today