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Discover what you're missing about Chicago's suburban office market in the latest issue of our CRE Office Pulse: Chicago's Resilient Suburban Office Market. Explore our report to shed light on a landscape ripe with opportunities. View Report: https://lnkd.in/giePFhfi #CREPulse #CommercialRealEstate

Even With an Office Glut, Firms Can’t Find the Kind of Space They Want. Developers are planning new office projects to meet the demand for high-quality workspace. These large tenants tend to want the same thing—buildings offering plenty of outdoor space, upscale fitness centers and restaurants, and locations near transport hubs. They are increasingly finding slim pickings, especially for hot spots such as New York City’s Park Avenue, Miami’s Brickell district and Century City in Los Angeles. Yet even some tenants in cities hardest-hit by the glut of space, such as Washington, D.C., and Chicago, are shocked by the few choices on the top shelf. https://lnkd.in/eVY5fAym CBRE SL Green Realty Corp. Realty Boston Properties (BXP) CoStar KReMM #branding #realestatebranding #propertybranding #commercialbranding #rebranding #repurposing

https://lnkd.in/gvAvXhxE Speculators Gauge A Recovering LA Economy & Changes To Traditional Office Practices & Workspace Needs. What Is Missing From The DTLA Arts District Footprint That Will Flourish?

The Paradigm River North office development... Denver's newest office development is making a splashy debut, but in a city with one of the highest vacancy rates in the country, it is coming on line at a time when demand for space has largely fizzled. About two years after breaking ground, a joint venture between New York's Rockefeller Group and local development firm Jordon Perlmutter & Co. have officially completed Paradigm River North, a building at 3400 Walnut St. in the city's RiNo district that includes 200,000 square feet of high-end space with amenities such as a luxury fitness center, valet parking garage and touchless access controlled through an app, as well as myriad conference and lounge options.  “What we sought out is to create the next generation of workspace that gets people excited to come to work every day,” Sean Perlmutter, an acquisitions and development partner with Jordan Perlmutter & Co., said in a statement. “And it’s about the experience. That is not just the location and the amenities in the area but the building itself and the way you feel when you come to work — that you’re in a cool exciting place.” More than half the building is still available following a 2022 prelease agreement the landlords signed with Davis Graham & Stubbs LLP for about 77,140 square feet. The law firm is slated to move into its space on three of the building's eight floors by January 2025.  Even so, the development venture is confident the property and its appeal will stand out despite the widespread softening rippling across Denver's office market.  Paradigm's second floor is designed to include speculative suites ranging between 4,000 square feet to 10,000 square feet to appeal to tenants that want a turnkey option and more flexible terms. “We are getting a lot of interest from a variety of different users, especially now that the building just finished construction,” Perlmutter said. “Denver is really a show me market, so the tenants really like to see the space.” Demand for Quality Similar to some other markets across the United States, Denver — and especially its downtown neighborhoods — is still struggling to stitch itself back together after the COVID-19 pandemic landed blows to the region's office sector. The area has one of the highest vacancy rates among any other U.S. market, a figure that has soared to 17% and is expected to climb even higher as leasing volume remains just a fraction of what it was in the years leading up to 2020. Leasing volume has remained largely flat since 2021,  averaging about 10 million square feet annually, or about 25% less than Denver's pre-pandemic, five-year annual average. Yet across the country, the newest and highest-end properties are largely outperforming their older counterparts as demand among tenants has climbed for space in buildings stocked with a slew of amenities and located in desirable areas such as Denver's RiNo neighborhood. By Katie Burke CoStar News June 14, 2024 | 1:47 P.M.

The current state of the office market is marked by challenges including the lack of premium spaces, the ongoing impact of remote work and the trend of decreasing property valuations. 📉 A recent report by Cushman & Wakefield exploring optimistic opportunities in the urban office sector highlights some hopeful factors to consider – such as the sustained demand for office spaces in cities, a preference for high quality workplaces and an increased focus on centralized locations. This GlobeSt.com article breaks down all the report’s handful pathways for growth and recovery in the sector: https://lnkd.in/g3binGgg   #IntegrisVentures #RealEstateOperator #Office #OfficeMarket #PropertyValuations

Hunneman authors a special column for Banker & Tradesman about the increasing popularity of spec suites. Reach out today for help finding your future office space! https://lnkd.in/eBSUKsD2 #Hunnemanre #commercialrealestate #cre Mark Fallon

Experience seamless productivity with ADTREE's temporary site offices. Our mobile workspaces are tailored to meet the demands of dynamic projects, ensuring efficiency and convenience on-site. Elevate your operations with ADTREE today. #ADTREE #TemporarySiteOffice #OnSiteEfficiency #MobileWorkspace #DynamicProjects #Efficiency #Productivity #Construction #ProjectManagement #Workspace #BusinessSolutions #JobSite #ConstructionSite #SiteManagement #WorkplaceSolutions #RemoteWork #ConstructionManagement #Worksite #OfficeSpace #PortableOffice"

When discussing the pros and cons of open space offices we often conflate Activity Based Workplaces (ABW) and Open Plan Offices (OPO). This distinction is important because ABW is specifically designed to counter the various negative aspects of a large OPO. Therefore it was interesting to run into this article that specifically looks at ABW and compares it to cellular offices (1-2 occupants), small, medium and large OPO. In short, not much changes. The largest gains we get from ABW is when we shift from large OPO (more than 24 occupants) to ABW. From the abstract: "People want and need spaces to support attention and focus. Organizations looking to save real estate costs should weigh these savings against the overall effect of their design choices on organizational productivity." Link to the full paper: https://lnkd.in/eguvtVDS

You ever notice how the people who design offices don’t actually work in them? They’re off somewhere in their cushy corner offices, probably with a door that closes. Meanwhile, the rest of us are stuck in this open floor plan hellscape. You know, the ones they said would “foster collaboration”? Yeah, because nothing says collaboration like someone discussing a cheating boyfriend two feet from your desk while you’re trying to solve the mysteries of the universe. And let me tell you something about the creative process, it’s not pretty. It’s not some sleek, streamlined workflow with a bullet-pointed agenda. No, it’s a chaotic, messy, winding road where half the time you’re chasing some half-baked idea that may or may not turn into something useful. Creativity is like trying to catch smoke with your bare hands. And now you want me to do that in a hall with Shinde from accounting loudly recapping Arnab Goswami? That’s not collaboration…that’s psychological warfare! It’s cruel, really. Creativity needs privacy. It needs quiet. It needs a place where you can let your brain do that weird thing it does without someone interrupting to ask, “What’s that you’re working on?” WHAT AM I WORKING ON? I’m working on not strangling you with my shoelace, Rahul, now go back to your 37-slide PowerPoint before I lose what’s left of my sanity. Here’s the kicker, they justify it by saying it’s “cost-effective.” Oh, it’s cost-effective, all right. Just not for my blood pressure medication. And you know the real reason they love open offices? They’re easier to control. They can see what you’re doing. It’s like a modern-day prison, but with fewer walls and more fluorescent lighting. So here’s my advice: if you want creativity, give us some damn walls. Give us a door we can shut. Hell, give us a closet, a broom, a chair, anything that lets us work without having to listen to Neha explain again why she’s vegan now. #office #work #workculture #openoffice

This piece by The Wall Street Journal’s Carol Ryan is an interesting update on the state of office space in New York City and whether the outlook is brightening for owners of class A office real estate. There are so many benefits to bringing workers back to the office, including strengthening company cultures and collaboration, revitalizing city downtowns, increasing activity for small businesses such as restaurants and retail, and stabilizing the values of office buildings and property tax revenue for city services. Beyond communicating those economic benefits, we must also encourage workers to return to the office by providing high-quality office space and healthy surrounding communities that make them want to come back.