NEW YORK CITY-Catch the State of the Union address earlier this month? Being that it tends to be a significant topic, we wanted to know what issues were most important to you. Respondents to last week's poll indicated that they felt jobs were the big issue, with 48% agreeing that we need to keep and create more jobs.

But why the concern for jobs? Scott Homa, vice president of Mid-Atlantic research with Jones Lang LaSalle spoke towards the changing office climate and how it will affect the commercial real estate industry's conventions of employment and the office market in DC in particular.

“We've actually been creating jobs within the office sector based in how workplace dynamics have changed,” he said, citing more workers telecommuting, the rise of flex office space, and greater office building vacancies as reasons behind this. As a result, job growth gauges are different. “Looking back, demand for office space was a clear derivative of employment growth and the line is getting a lot murkier right now based on this drive to efficiency [in the workplace].”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.