A brand new set of trends is emerging in 2018 for commercial real estate. This market has been growing over the last few years, and rent in most urban areas has increased, as well. Tenants are consequently taking steps to maximize the efficiency of their living and working spaces. Here are some of the trends we are seeing:
- BEING HUMAN. Millennials are becoming a dominant part of the current workforce, and their expectations include more modern and livable workspaces. Commercial real estate developers are now creating properties with more open space and are including recreational areas and other spaces that encourage and support collaboration between workers. Occupant health, safety, and productivity are also high on the priority list these days, too. Enhancing the experience of being human is one of the main determining factors in creating work environments today and for the the foreseeable future.
- SMART BUILDINGS. The human experience is also enhanced by using smart building technology, improving comfort and making spaces more interactive and “smarter.” Customers also have access to much larger collections and libraries of information through mobile applications and dashboards, and property owners are making building data available to their customers in the same way. Building data is being used more and more to let occupants know such things as space availability, etc.
- SUSTAINABILITY. Current culture has shifted towards a green ethos; property developers, tenants, and employees alike are all seeking out more sustainable options when it comes to living and working spaces. Our society’s higher awareness of climate change is driving these sensibilities and most people understand that everyone needs to do their part. It’s also just plain good business sense to provide these features to clients and customers who desire them. Such additions to commercial properties as intelligent building controls and eco-structures are some of the developments currently becoming more common on the the market.
- FLEXIBILITY. Commercial real estate investors and tenants are looking for operational flexibility these days. New buildings must have the capability to change as tenants come and go, accommodating different company cultures and styles of doing business.
Here at Ascension General Contractors, we stay informed about commercial property trends. Call us today at (615) 750 2345.