worCPlaces’ Post

The office space landscape is evolving as reports show US office space shrank for the first time in history last year. More space vanished than emerged, raising concerns about the future of office investing. Vacancy rates remain high, with no clear resolution in sight. While the trend sparks interest in multifamily units as an alternative investment, the game isn’t over for office spaces. The big question is, will this shift reshape the real estate industry altogether? A deeper dive: https://ow.ly/aHa350PLKJO

Those files aren't in a filing cabinet anymore! Looking around the commercial real estate market, focusing on the current state of office market in particular, Brookfield Asset Management says "we believe the real issue facing the sector is one of oversupply: dated, functionally obsolete office space is plentiful while office buildings that can meet modern tenant preferences are limited." Put another way, old is out and new is in. What do they say is in: "companies are increasingly looking for higher-quality office space, which... (is) becoming a meeting place for employees to create, collaborate and innovate. The modern office is no longer a space to store paper files, host server rooms or house some of the administrative functions it would have done in the past." So, beyond the #cre vintage, location, floor plates and ceiling heights the challenges that older, functional buildings and the rest can address are investing in amenities, including #inbuildingwireless to assure occupants access to ai, erm, files and reliable online collaboration with virtual colleagues. https://lnkd.in/e2BnyrGS

# 🤔🤫 Hybrid Work & Office Space # Converting office space to an alternative use is the first thing that comes to mind, especially office-to-residential conversion, considering the issues with housing shortages and affordability that are plaguing many big cities. The problem is, converting an existing office building for residential use isn’t easy. The hurdles include structural differences between an office and residential building, making it hard to convert existing office space unless fully torn down.

From Bustling City Centres to Rural Retreats: Exploring Workplace Locations Choosing the right office location is crucial for your business success. But with so many options available, how do you decide what's best for your company? Our latest article dives into the pros and cons of various workplace settings, including: 👉 City Centres 👉 Suburban Areas 👉 Campus-style Offices 👉 Business Parks 👉 Industrial Parks 👉 Rural Locations Whether you're looking for prestige, affordability, or work-life balance, we break down the key factors to consider in your office relocation decision. Read more → https://lnkd.in/eWxG-jRM 📧 [email protected] #design #interiordesign #designandbuild #officeinteriors #officedesign #workplacedesign #architecture #construction

Could this be a new way of working?🌴🌳 Imagine swapping your typical cubicle or home office for the rustle of leaves and the soothing breeze of nature. 🍃 https://lnkd.in/gbjwxRjJ #OutdoorOffice #HomeOffice #BusinessIdeas

It may be 3 years before we see a new office development break ground in the current environment. It will take Austin's continued growth and a reversal of the work-from-home trend to absorb the inventory on the market right now. The pivot from office to residential might be a trend you see with other pending developments.

The conversation regarding office space continues with planners, architects, designers, developers, commercial real estate brokers and economic development professionals. This is a frequent topic on many professional organizations' agendas. We can no longer discuss office space in a vacuum - without talking about mixed-use development.

Offices today are gaining the comforts of home. London architecture firm MCM found a common pitfall with the open office plan: a lack of privacy to get work done, and thus pivoted to creating cozy nooks for workers that embody the comforts of a home office.   What do you think of this trend toward softer office design?    #officedesign #officespace #corporaterealestate #realestate

In summary... "This indicates that by 2027, newer, first-generation space, typically considered to be buildings less than a year to three years old, could represent as little as 1% of total inventory, down from 2.4% today, which also matches its average share during the 2010s. This would be the lowest share of new office space on record and suggests there may be precious little supply of new inventory available to meet the needs of occupiers seeking workplaces in the latest and greatest buildings." 📉 It will be interesting to see how the shrinking volume of new office construction affects the remaining office supply existing outside of that 1%. Adaptive reuse, capital infusions and creative solution strategies will be paramount in successfully transitioning to the new office market that is in the beginning stages of unfolding. #office #cre #commercialrealestate #officeleasing #officemarket #newconstruction #officesales