Steve Bay

The trend toward creative office concepts—even for non-creative industries—is leaving traditional companies wondering how to adapt. While the real estate narrative assets that all millennials want open floorplans and amenitized office space, that isn't true for all millennials. Steve Bay, vice chairman at CBRE, recently sat in on a class of law students discussing whether they wanted a large corner office or an open format. One student said it was more accurate to ask: Would you rather work at a traditional firm or in the legal department at a tech firm? A tech firm's legal department is going to be more open plan. The question is hard to answer, and only time will tell. For law firms signing 10 to 15 year leases, however, need an answer sooner than later.

“By 2030, 75% of the work force will be millennials. The composition of their workforce is going to change dramatically over the next 10 to 15 years. So, they are trying to figure out what to do,” Bay tells GlobeSt.com. “Do they build private offices when by 2025 the space may be obsolete, or do they build private offices in anticipation and risk losing lawyers today that haven't adjusted to the new workspace. It is a difficult decisions when to make a mistake can potentially be fatal. They err on the side of being conservative and really adhering to what is traditional.”

For law firms, the issue is complicated. Many law students, especially those recruited by high-level firms, are focused on achieving goals and earning prestige in their industry. “The biggest and best law firms are recruiting from the biggest and best law schools. They don't come into the workforce focused on the office space, they are looking at accomplishing their next challenge and goal. Often times, that is a private office,” says Bay. “We thought that millennials will all want to work in an open plan, and I think that you will see it with first and second year associates that need to work in a group. I don't think that you will see it with the senior partners. That is a design change that you are seeing a little bit.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.