Top Trends in Modern Office Building Space

Top Trends in Modern Office Building Space

Commercial real estate and the use of office buildings has dramatically changed in recent years. Coworking spaces, work-from-home options, and modern technology have created opportunities that the general workforce never had before. 

Overall, standard offices have transitioned to more inviting and collaborative environments. Below are a few of the top trends in modern office building design. 

Efficiency 

As with most newer construction and remodeling, office buildings are making sure to emphasize efficiency when creating unique spaces. Using durable and high-quality materials reduces repair and maintenance spending and cuts down on utility costs over time.

Collaboration

Cubicle walls separate many traditional office spaces at every turn, while newer designs provide space for collaboration. Employees now sit at smaller workstations within a larger open area. Forgoing the heavily divided space allows team members to meet and collaborate easily. 

Visually Appealing 

New office designs include modern furniture and interior elements, plenty of color, open concepts, and abundant natural light. Updated finishes and colors make for an energizing workspace, and the use of glass walls to separate offices and meeting spaces creates a bright environment.  

Built-In Technology

Down to the minor details, companies are designing their offices with plenty of built-in technology. Conveniently placed outlets, projectors and smartboards, and wireless phone charges are keys to creating a thoughtfully designed work area.

Recreation

Beverage stations, ping pong lounges, and nap rooms—Who would’ve thought these features would end up in office buildings? Unique recreation spaces have become increasingly necessary to recruit and keep top talent. 

Innovative Meeting Spaces

Conference rooms and large private offices are a thing of the past. Open concepts allow for team meetings with employees remaining at their workstations. Additionally, updated offices are more likely to feature smaller meeting hubs for a few employees to hold meetings or take private phone calls.

Looking for a New Office Space?

Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 regarding any commercial real estate needs in Longmont, CO, and our neighboring communities.

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Remote Work Impacting Commercial Real Estate

Remote work became necessary during the global pandemic and continues to impact the commercial real estate industry. Tenants are looking for different options than they were a few years ago, and commercial property owners are learning to navigate the new normal.

Here are a few trends to be aware of as working from home increases in popularity. 

Digital Nomads

A digital nomad refers to employees who work remotely and use the flexibility to travel to and live in different locations throughout the year. This trend has broadened the demand for short-term rentals and more flexible lease agreements as workers choose to leave expensive cities for other areas.

Co-Living

Co-living spaces typically have individual rooms for rent and shared amenities such as kitchens, living rooms, and working areas. As the cost of renting and purchasing has skyrocketed, co-living spaces have become much more popular. 

With flexible and affordable lease terms, some remote workers have shifted away from renting traditional apartments and are choosing co-living as they explore new states and cities. 

Work-from-Home Amenities

Working from home means people spend much more time in one location and aren’t experiencing the social aspects of in-person work. Tenants are increasingly determined to live in buildings or areas with amenities like gyms, pools, and common working spaces that make remote work feel less isolated.

Have Any Questions?

If you currently own or want to purchase or lease commercial real estate, it’s essential to understand the current market trends. Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 if you have questions about the commercial real estate market in Longmont, CO, and our neighboring communities.

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How is Online Shopping Changing Commercial Real Estate?

The Shift to Online Shopping

Can you remember when buying something on Amazon wasn’t an option? Do you recall driving to several stores to find a specific product? E-commerce created a global economy that has become accustomed to ordering nearly anything with the touch of a button.

Online Shopping Changing Commercial Real Estate

The rapid increase in online shopping undoubtedly changed the commercial real estate industry in several ways.

Large-Scale Construction

With large online retailers like Amazon comes the need for expansive facilities to execute their operations. The construction of enormous distribution centers near major cities is necessary to meet shipping demands.

Changing In-Store Environments

Why would you want to drive to a store when you can purchase anything you need from your favorite spot on the couch? To attract customers, different brick-and-mortar retailers are implementing unique ideas, such as providing children’s play spaces that allow parents to shop distraction-free.

Additionally, stores are integrating technology into the shopping experience. Retailers are implementing apps that assist customers in-store and some that even allow shoppers to check out directly through their smartphones to avoid lines.

Smaller Retail Spaces

With the shift toward online shopping, some retailers are struggling to keep large locations open and are pivoting to smaller spaces. Increased efficiency in shipping allows stores to keep less inventory on hand, making downsizing a great and more affordable option for some.

Watching the Market

As with all other aspect of the world, the commercial real estate industry is constantly evolving. If you are considering investing in commercial real estate, working with a professional who is consistently watching your local market and knows today’s trends is essential.

Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 if you have questions about the commercial real estate market in Longmont, CO, and our neighboring communities.

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What to Consider Before Moving Office Spaces

Time to Move

Have you outgrown your current office space and decided it’s time to move? Has the global pandemic changed your business’s commercial real estate needs? Are you looking for a more updated and functional building?

There can be many reasons for moving to a new office space. You should consider a few things before deciding when and where to make your move.

Tips for a Smooth Transition

  • Know What You Are Looking For: Before you start looking for new commercial property, make a list of must-haves. Not every office space will provide the same functionality, so it’s important to know what you need.
  • Don’t be Overly Picky: Keeping your list of must-haves in mind, you shouldn’t be afraid to compromise on a few less essential items. Keeping an open mind will help you land a new space that fits your needs without spending years looking for an office that checks every single box.
  • Find a Moving Company: Finding movers who care for your company’s possessions the way you would can seem impossible. Look for recommendations from other business owners or your trusted real estate professionals.
  • Check Your Dimensions: No matter the size of your office, you have likely acquired pieces of furniture, equipment, and decorations. Make sure that all the necessary items will fit in your new space before wasting time and energy moving them.
  • Celebrate: Once you have found your perfect new office space and settle in, remember to celebrate! Real estate shopping and moving are not always easy, so remember to reward yourself and your employees. 

Rely on Expertise

While moving office spaces may be sometimes necessary, it can feel daunting. Make sure you partner with a real estate professional with the expertise to make the transition seamless. 

Please contact Steve at WeBrokerCORealEstate or 720-600-9513 if you have any questions about the commercial real estate market in Longmont, CO and our neighboring communities.

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Pros and Cons of Hiring a Third-Party Property Manager

Does it make sense to use a third-party property manager for your rental property? Whether you are buying a single-family home or a large apartment complex, hiring a property manager will have its pros and cons. 

Hiring a Third-Party Property Manager

Let’s dive into some pros and cons of hiring a third-party property manager.

Pros:

  • Knowledge & Practice: In the same way you would rather see a trained doctor or take your vehicle to an experienced mechanic, you can trust a property manager to conduct business properly. They have created an entire career out of managing properties, and that experience can significantly benefit you or your organization.
  • Protecting Your Time: Your property manager will take care of tenant phone calls/requests, contractor coordination, and the financial and bookkeeping aspects of owning a rental property.
  • Avoiding Conflict: When you manage your own property, it’s easy for your business and personal lives to become intertwined. Having a neutral third party can help protect your private life from the emotions and stress of being a landlord.

Cons:

  • Control: Your property manager will oversee the communication with tenants and take care of tasks associated with the building. This means you won’t have complete authority to make decisions and handle issues as you see fit.
  • Cost: The fee to hire a property manager will inevitably affect your bottom line. Depending on the situation, the extra expense may or may not be worth it.

What Strategy Works Best for You?

Many factors play into whether or not it makes sense to hire a third-party property manager. You should work with a real estate professional that can help guide you in that decision based on their experience. 

Please contact Steve at WeBrokerCORealEstate or 720-600-9513 if you have any questions about the commercial real estate market in Longmont, CO and our neighboring communities.

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Are Communal Work Spaces Changing Commercial Real Estate?

Commercial Real Estate During a Pandemic

The rapid rise of a global pandemic certainly changed the commercial real estate industry. Many companies shifted immediately to fully remote work and never looked back. Others took a brief hiatus from their corporate office buildings but knew they would return as soon as possible.

When working from home became a permanent reality for some, they relished the idea of never having to leave home. Quickly, however, many missed the office environment and thus began the recent dramatic increase in communal workspaces all across the country, including here in Northern Colorado.

Coworking Begins

San Francisco was the home to the first communal office or coworking space, opening in 2005. Since then, employees and employers alike have realized the benefits of the coworking sector. The combination of flexibility for the employee while creating a structured work environment proved beneficial.

Along with flexibility, communal office spaces foster creativity, productivity, and connection with others. Studies have shown that an overwhelming majority of people working from a coworking space perform better and enjoy the ability to collaborate with the diverse population working nearby.

Changing Commercial Real Estate

Companies like WeWork, one of the largest coworking providers, are causing the following changes in the commercial real estate industry:

  • Communal workspaces allow building owners to benefit from purchasing more space than one business can fill.
  • Some companies will not have to buy or rent a single piece of commercial real estate if communal workspaces are conducive to their business.
  • Commercial real estate owners with unused spaces in their building can collect passive income by leasing unoccupied portions for coworking.
  • More companies will continue to operate with employees across the county as they utilize the amenities that coworking spaces offer.

Is Communal Office Space Taking Over the Market?

The quick answer is no. Communal office space is increasing in popularity, but the reality is that it doesn’t work for every industry. Medical facilities, labs, and many other corporations will still need or want their own facilities for many years to come. Coworking spaces are a great addition to the commercial real estate industry and can benefit building owners, but they aren’t taking over the market anytime soon.

Contact Steve at WeBrokerCORealEstate or 720-600-9513 to discuss any of your commercial real estate questions or needs in Longmont, CO and our neighboring communities.

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