Commercial Investment Real Estate March/April 2017 | Page 27

SHRINKING
FOOTPRINT
Amenities-rich offi ces become
retention and recruitment tools.
by Beth Mattson-Teig
The big topic
of conversation
across metros these days is that offi ce space needs
are shrinking as companies embrace mobile work-
ing and increase effi ciency. Yet even as companies
are downsizing footprints, they have bigger expec-
tations when it comes to building décor, infrastruc-
ture, and amenities.
Offering employees workspace that has a “wow”
factor is more important today as is the ability to
accommodate different work styles ranging from
baby boomers to generation X to millennials along
with the up and coming generation Z waiting in
the wings, says Angela Wethington, JD, CCIM, a
vice president at Browning, a commercial develop-
ment, construction, and management fi rm based
in Indianapolis.
“Offi ce space is no longer just the place for people
to show up and do work,” she says. “Offi ce space and
the offi ce environment is viewed as a retention tool
and as a recruiting tool for potential employees.”
Tenants also are demanding space with greater
fl exibility. “Employers are utilizing fl exibility in
space planning by creating multiple work environ-
ments such as standing, lounging, and co-working
to fi t the workstyle of today’s diverse workforce,”
Wethington says.
Employers want to be able to move and adjust
fl oorplans so that they can recalibrate spaces on an
as-needed basis for collaboration within and across
departments, as well as accommodate employee
needs for additional quiet “me space,” according to
Wethington.
Environmental Adaptation
“The walls in the offi ce are coming down,” says
Steven Rapoport, CCIM, a broker at Chicago
Real Estate Resources. “In 2016, I have seen busi-
nesses continue to move toward the open work-
space rather than private offices. Moving away
from traditional private offi ces is both economical
and creates a more collaborative environment that
ultimately boosts productivity.”
Many fi rms are encouraging remote working
because it does help to reduce overall offi ce costs,
and companies seem to be allocating much of the
savings toward technology that makes it easier for
March | April 2017
25