Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
Commercial construction totaled $23.8 billion between 2013 and 2017, yielding a total of more than 73 million new square feet of space. The last three years showed the strongest growth, with each year topping $5 billion and 16 million square feet of new commercial construction.
The transaction involves not only the building but the entire 72.5-acre site that includes a 12.3-acre container storage area, as well as a future development site covering 24.2-acres.
The structure and layout of office space has a direct impact on hiring competitive talent, keeping employees happy and healthy, reducing operating costs, and creating innovative conditions.
GlobeSt.com caught up with Bob Courteau, CEO at Altus Group, to talk a bit more about his recent RealComm panel, where he said that he is now seeing a different analytics model that is beginning to focus on a “give get” approach.
“With unemployment below 4 percent, companies are focusing on making smart decisions about their space – decisions that keep their employees happy and engaged,” says Revathi Greenwood, Americas head of research at Cushman & Wakefield.