Publications

- February 1, 2014: Vol. 26, Number 2

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Creative office: The evolution of open-plan work spaces demonstrates significant changes have come to market

by Bill Cockrum, Brad Howe and Peter Houghton

 

The office market is transforming more today than at any time during the past 50 years. While location, cost and image remain high on the list for prospective tenants, new to the list and moving up quickly in priority are a new set of criteria focused around making office space a powerful tool for building company culture in a rapidly evolving creative economy. No longer just walls, doors and windows, office space is now viewed as a place that should inspire new ideas and creativity. With labor being employers’ largest expense item, the focus is on attracting, retaining and inspiring people to do their best work.

With a relatively small percentage of tenant overhead devoted to the cost of office space, tenants have become more selective, choosing office space based on location and design first and cost second. For office tenants thinking about leasing real estate, employee recruitment retention is the number one consideration, with a focus on younger

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