GlobeSt.com caught up with JLL Atlanta's Mike Werner to discuss suburban office trends in the Atlanta region in this exclusive interview. Stay tuned for part two, in which he will discuss the office growth opportunities in various submarkets.
GlobeSt.com: What are the trends you're seeing in suburban office for 2018?
Werner: For suburban office as a whole, investors and employers are beginning to focus on highly amenitized locations. Employers want to attract and retain employees, so they don't want to office on an island. They want to be near restaurants and outdoor common areas.
Accessibility is also playing a major role in suburban office. Employees need to be able to easily come and go, which means suburban office needs to be connected to major corridors or transit.
This is usually the issue that most suburban offices face—they are developed miles off the exit of an interstate, which means that employees are sitting in traffic on the interstate and facing congestion along the surface streets to work. Developers and owners need to consider how to make the commute—both to employees' homes and to lifestyle options—manageable.
GlobeSt.com: As you're talking to potential tenants, what are they most attracted to?
Werner: For suburban office, it usually boils down to the neighborhoods surrounding the office space and access to amenities. People living in the “suburbs” don't want to have to get in their car and drive 30-plus minutes into the city to go to the movies, enjoy a boutique dinner and have a place to work or shop. A mixed-use development, like HALCYON in Forsyth County, offers suburbians the opportunity to take an Uber or walk on the trail to create a new experience—one they don't have to drive to.
Proximity to affordable, quality housing and strong school systems is always very high on the list in order for companies to attract and retain employees. For HALCYON, which is right on exit 12 of Georgia 400, the school system is attractive to companies looking to relocate within the submarket or those that are new to the market.
Forsyth County Schools' graduation rate is 15 percent higher than the national average, and HALCYON is in close proximity to many affluent neighborhoods and schools in Forsyth. Also, walkability is playing a major role in all office growth.
Whether it's suburban or urban, employees want to be able to have enjoyable walks to lunch, dinner and other options. If an office employee has a child who has a game at Fowler Park, the access to the Greenway trail will allow them to run/walk/bike to the park and avoid getting in their car. With suburban mixed-use environments, such as HALCYON, employees can park—if they don't already live in one of the residential options—and not have to get in their cars all day. Something else we're seeing more frequently is the employers' desires to be near nature. Having trails and pocket parks nearby is appealing to all sectors, as it fulfills our innate tendency to connect with nature.
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