At a recent CORFAC seminar in Las Vegas, I had the opportunity to hear Chris Lee of CEL & Associates, Inc present an intriguing overview of the U.S. commercial real estate market. Among the nuggets that pertain specifically to the office market:Wow! . . but Fairfax planners continue to assert that office space per worker is 300 square feet.
Will office buildings “function more like a Marriott and operate like Sabre”?
- The amount of office space per worker could shrink to 50sf – 75sf, and 25% of workers will be “Club” employees
- Office buildings will shift from 8 to 6 to 24/7 activity centers
- “My Place” will replace “My Space” as workers seek opportunities to create virtual offices, connective portals and “swarming” venues
- Office space will be leased by units of consumption rather than square footage
- Future leasing decisions will be made by the Director of Human Resources to reduce growing generational conflicts and enhance worker productivity
- Moveable, “intelligent” walls will replace fixed offices. Windows will have electro-chromic glass which turn them into multi-touch screens
- “Pop-Up” workplace cubicles, exercise and/or ergonomic office furniture and pink noise systems will be commonplace.
Friday, May 24, 2013
One Forecast of Shrinking Office Work Space
InSiteSF, a San Francisco commercial real estate blog, reports the following from a presentation at a recent real estate seminar: