Demand for Creative Office Space High
- Nov 12, 2015
Great ideas happen in great spaces. That was the sentiment echoed at the DFW Office Boom and Creative Office Revolution event hosted by Bisnow this week in Dallas. Jim Rainbolt-Bailey of Staffelbach moderated a panel that included Bill Brown of Granite Properties, Justin Segal of Boxer Properties and Chad Cook of Quadrant Investment Properties.
The panelists agreed that creative office space is here to stay. These key takeaways highlight their thoughts on:
The definition of creative space
While there was no set definition, panelists agreed that collaborative work areas, natural light, onsite amenities and location within a walkable community are some of the features that define a space as creative. Creative spaces are popping up in all major cities to attract employees in a very hot job market. Companies believe these spaces bring out the best in employees at work. Technology is also a key driver in the evolution of creative office space allowing workers to engage with customers and colleagues no matter where they physically work.
What’s driving the phenomenon
The desire for creative space is being driven by two important trends:
- the presence of the millennial generation in greater numbers in the workforce
- the change in the definition of work-life balance
Millennials are spurring the growth of open and collaborative spaces, a preferred way of working for this generation. The need for work-life balance in our tethered society means people want to close the distance between their work and personal lives. Offices are answering with amenities on site that save employees from making trips around town. On-site restaurants, for example, that offer plated meals, mean that workers don’t have to get in their cars for lunch and can get back to work quickly – a boost to productivity.
The now and next
The creative office space is here to stay and in some markets still continues to be underserved. In many places tenants are beginning to understand that a creative office with collaborative open space, similar to those in hotels, can make a difference for their employer brand. And if that office is in a walkable community, the space will have even more value for workers both now and in the future. The panel agreed that offices of the future will need to stay relevant to both the current and next generation of workers and be adaptable to employment trends.
For companies it comes down to where the most dynamic talent wants to live and work both now and in the future.