The same trend is infiltrating its way into the office sector. During breakout sessions at the conference, panelists said tenants are beginning to re-think the way they take space in the wake of increased communication, telecommuting and other digital enhancements to the workplace. Joel Ratekin of Ratekin Consulting said the conventional idea of office space "no longer works" in an age of collaboration and technology.

“I’m talking about doing more with less,” he said, noting that workplace trends are evolving from large, closed-door corporate offices to communal spaces for all employees – a concept known as open desking, where innovation and peer collaboration are welcomed. And if workers are not in the office, online networks can help connect multiple people from any location. “It is a sign of the times,” he said. “People can work from wherever they want.”

The phenomenon, known as “distributed work,” is concept that involves various ways in which people work, from central offices, home computers, satellite locations and mobile devices. In an online survey about group technology conducted by Ratekin, the report—based on 40 top executives in the industry – found that rentable square feet per person has changed as a result of new technology and changes in the office industry. Three years ago, rentable prices per square foot averaged at $180 a foot, while five years ago, rents were $205 a foot, and ten years ago, pricing was much higher at $227 a foot.

The study looked at several industries, including financial services, consulting, technology, healthcare, government, higher education and retail. Out of the respondents, 76% of surveyed companies have reported a strong connection between sustainability and their new workplace strategy—and higher productivity.

“Change management is hard at the executive level,” he said. “But given worker’s choice, there are advantages.”