Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
Real estate is adopting the “space as a service” model
The future of real estate is being transformed by advanced technology. Information, communication, goods and more have already been revolutionized by the technology industry and now office and living spaces are evolving too.
There are six technological developments that should change the way we conceptualize and monetize real estate.
Private satellites are creating a more connected world, from SpaceX to Google, these companies are trying to connect over 4 billion people to the web using floating balloons.
Next, intelligence is being democratized thanks to the cloud. Now, the average user can access all their data at anytime.
The internet of things (IoT) is having its moment. Sensors can collect data about our physical environment and use it to develop VR tools for our living and coworking spaces.
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Additionally, our work/life balance is shifting. Technological developments are supporting the way we understand work/life distinction by making way for the gig economy and freelancers.
Brick-and-mortars are not as necessary as they once were due to AI developments that have changed the way we consume products.
Platform economy has shifted its emphasis from products to services and how we understand ownership. Now, we are seeing more rental services like catching an Uber instead of owning a car.
Overall, the real estate business model is beginning to reflect the notion of “space as a service.” Airbnb, WeWork and other companies have already marked this shift.
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JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.