Open office space—whether you call it create office or progressive office—is the most sought-after office configuration these days. While there are many benefits for tenants, like talent recruitment, talent retention and a smaller office footprint, there are also benefits for landlords. Open office leases faster and at higher rates, and it is easier to release with fewer tenant improvement costs.

“It is not expensive to have a few private offices and the rest open. When you don't have a lot of money in the TI, it is easy to release the space if they don't renew,” John Combs, a principal at RiverRock Real Estate Group, tells GlobeSt.com. “With traditional private offices, it is really difficult to keep it the way it is and find tenants for it. A tenant that wants an open space works with a designer to create the space that they want.”

Open office spaces have myriad configurations, from simply having no private offices to some private offices as well as truly open spaces with exposed ceilings. The latter is the most expensive option. “Open space is really a cultural discussion. About half of tenants want the open concept and of that half about a quarter of them want to open the ceiling to make it look like more hip, cool space,” says Combs. “The open ceiling concept is where it gets expensive.”