Denver Business Journal: Designing Office Space for Flexibility and Maximum Revenue

With a shift in work styles occurring in the office—driven, in part, by changes in virtual communications, the trend towards off-site meetings, and less demand for private workspace from Millennials—developers, landlords and tenants are beginning to rethink the design and function of the traditional office. In their article for the Denver Business Journal published on September 14, 2012, Jeff Hohensee and Phillip Saieg write that “The work style of the 21st-century workforce, with its focus on sustainability, mobility, connectivity and collaboration, is changing. In turn, the space we occupy must transform to keep up with these new demands.”

Tenants are finding that, as more employees conduct business outside the office or in collaborative spaces, the amount of square footage required for each employee has lessened. And in an effort to maximize rented space, some developers and property owners are building out more flexible office spaces, complete with multiple meeting spaces and natural light, to attract tenants and appeal to employee work styles. And the potential outcome of these shifts in style and attitude? Building owners may be better able to maximize rented space and revenue while tenants can reduce overhead and operating costs. And with both parties benefiting, say Hohensee and Saieg, we may see a move towards integrated design and split incentives among owners and tenants:

“By marrying space design with productivity, floor plan layout with revenue generation, and building systems with comfort and sustainability, building owners are able to drive down vacancy rates, boost productivity of their tenants’ employees, and enhance profitability for both themselves and their tenants.”

To read the full article, visit the Denver Business Journal online: http://www.bizjournals.com/denver/print-edition/2012/09/14/denver-real-estate-experts-ways-for.html.

For more information about commercial real estate in Denver, contact Tom Pappas online or call today at (720) 259-1809.