Some people believe that the 2021 upward trend in the use of suburban office spaces comes as a result of the COVID-19 pandemic. Office owners and investors are focusing their prospects on hot suburban markets, including Atlanta, Houston, Las Vegas, Dallas, Miami, Orlando, New Orleans, and Phoenix. All these cities fall in the Sun Belt region of the United States. In 2020, predictions hinted at low vacancy rates and the disappearance of any office culture. Things look different at this point in time. Although there are short-term challenges, many office spaces in suburban areas seem to be on track to receiving workers. Real estate companies are witnessing a surge in interest in their suburban portfolios.
While many companies are preparing to make a comeback to office work, organizations and commercial realty investors have turned their attention to commercial office spaces in suburban areas. Here is a guide to help you find the most suitable property for your needs.
Benjamin Gordon Cambridge Capital: Buying office space for post-pandemic needs
Location has always mattered, and it is still a significant factor to consider today. The pandemic has shown the nation that not all suburbs are made equally. Some are well-equipped to make a comeback with top talents, jobs, and improved lifestyle standards (without the high price tag of living and working in a city). According to Benjamin Gordon Cambridge Capital, it is best to focus on an area where restaurants, transportation, and retail stores are easily accessible. Places with mild weather conditions, like Phoenix, Florida, and North Carolina, are predicted to see steady progress. These were already popular destinations before the pandemic happened.
Another factor is access to the outdoors. Simply finding the right location is not enough to encourage employees to join your office space. You have to think about their mental and physical health, too. The favorable climate of the Suburban Sun Belt can be a major incentive for workers. If it has parks, that is also a bonus. You can seek out Wi-Fi-connected outdoor spaces so that people can work in open-air with their laptops, or have meetings outdoors with colleagues. These spaces can also help them restore their energy during the break, and are a great way to prevent the spread of COVID-19.
According to Benjamin Gordon Cambridge Capital, preventative measures like social distancing and face masks are still necessary in most spaces indoors. However, it is essential to realize that personal and social relationships can be challenging to nurture virtually. So, having a flexible space can be beneficial where people can interact safely and do their job efficiently.
Only time will tell whether these changes are temporary or permanent. However, it is a fact that pandemic has changed almost everything we once considered normal and standard. Nevertheless, if you plan to open an office, you should keep an eye on these trends and forecasts. Employees have been working from home for the past year – some may be excited to get back to working in person, while others may need a bit of encouragement. Choosing somewhere with a mild climate is best to keep people happy outside of the office, and how they feel outside of the office is important to their productivity inside the office.