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The Office of Tomorrow

Jun 25, 2020 | Posted by Jeff Weil | Uncategorized |

“By 2021, a new blended workforce will emerge with 20-30% of people working remotely 2-3 days a week.”  Employees and clients must feel confident that management is making safety a priority.  Buildings will be increasing automated and touchless, with physical distancing, space utilization apps and health and safety protocols. Remote working will be part of the business strategy. There will be a continued surge in technological innovation. Zoom today, who knows what tomorrow?  I have a few thoughts to add to this. I remember after major earthquakes where folks run out and put together a box or two of non-perishables, water, flashlights, and other emergency items, which sits in their garage for the next ten years. It doesn’t get restocked, the water might have gone bad, batteries expired. When we are past this Covad19 will the measures we had to take to survive this pandemic stay with us and cause continued change, or will we slowly morph back into old habits? I do agree that increased remote working is here to stay. What about the huge corporate campuses like the 2.8 million square foot Apple ‘spacefhip’ campus which can accommodate 12,000 employees, or the humongous office campus Google is planning for downtown San Jose which with 8 million square feet could possibly accommodate 50,000 employees?

 

Corenet Global   June 18, 2020  Guest Post by Heidi Hendy and Anna Grayhek, H. Hendy & Associates

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During 2019 in the City of Walnut Creek, California, only counting office buildings over 20,000 square feet, there were over 876,596 square feet of buildings sold for a combined sales value of $389,473,000. San Francisco reports that office sales doubled year-over-year. During the third quarter, $2.6 billion dollars of San Francisco office buildings sold totaling 3.3 million square feet. These are huge transfer tax generators and as I have done in the past, caution the various government agencies not to count this a reoccurring revenue stream as this phenomenon is not sustainable in the long run and should not be used for long-term budgeting. Enjoy it while we have it, but at least for the East Bay we have had the majority of our Class A office properties change hands over the past five years, and there is only so much you can squeeze out of an office building, even with rising rents.

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Jeffrey Weil, CCIM, MCR.h, SIOR

Executive Vice President
San Francisco Bay Area
1850 Mt. Diablo Blvd., Suite 200
Walnut Creek, Ca 94507
CA Lic. 00786195
Phone: +1 925 279 5590
License #: CA-00786195
Email: jeff.weil@colliers.com

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Contact Information:

  • Jeffrey Weil
  • Colliers International
  • 1850 Mt. Diablo Blvd., Suite 200
  • +1 (925) 279 5590
  • jeff.weil@colliers.com
  • officetimes.com

Contact Information

  • Jeffrey Weil
  • Colliers International
  • 1850 Mount Diablo Blvd., suite 200
  • CA Lic. 00786195
  • +1 (925) 279 5590
  • jeff.weil@colliers.com
  • www.officetimes.com

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