As companies look for ways to attract and retain top professionals and expand their client base, they desire spaces that focus on elevating culture and offer a variety of activity-based areas to increase productivity and foster creativity—all in an efficient layout that comes at the right price. The CRE industry continues to evolve to respond to these needs, emphasizing the importance that commercial real estate plays in achieving growth.
Here are some of the CRE trends that have made an impact this year and are still gaining momentum:
Suburban Offices Get a Facelift
The common notion that you need an office located in the city to attract young talent is starting to change. With the hopes of trying to appeal to millennials as they age, suburban landlords and employers are focusing on real estate that combines the best of both worlds—the amenities and walkability of the city with the more affordable price tag of the suburbs.
Owners are upgrading properties to include urban-inspired amenities, such as fitness centers, beach volleyball courts, and “barista-driven” coffee lounges, while employers are choosing offices near public transit and walkable suburban main streets. Some Chicago suburbs are recognizing these trends and responding by sprucing up town centers around Metra stations to attract more office and mixed-use developments.
Rightsizing Your Office
Whether your office is in the city or the suburbs, it’s important your space continues to serve as a strategic asset and not a burden on your business. Companies can suffer from an inefficient layout or a space that is substantially too large to accommodate even the most aggressive of growth plans. To that end, many businesses in downtown Chicago and the suburbs have been reducing their square footage in turn for offices that are less expensive and more efficiently designed or offer greater amenities and benefits for their employees.
Hybrid Offices feature Activity-Based Workplace Design
Successful office spaces focus on employees’ comfort and productivity throughout a variety of tasks, which is why work environments are evolving to include a mix of open areas with private offices and conference rooms. The trend toward hybrid offices allows for movement based on mood and activity. Large communal spaces accommodate team brainstorming sessions and serve as informal meeting areas for small groups of colleagues. Offices and conference rooms provide quiet areas for individual tasks or private meetings.
Bespoke works with clients to ensure their office is fully equipped to satisfy the needs of the modern workforce, while also providing customized solutions specific to each client’s overall business goals. Click here to request a custom space fitting to ensure your space is strategically advantageous and financially efficient.