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.
Healthy work environments no longer a luxury
The commercial space wellness movement has recently come into focus thanks to the International WELL Building Institute’s certification program (IWBI), the WELL Building Standard, has caught traction.
Owner-occupiers are increasing the inclusion of active stairways, biophilia and other practices as another way to attract and retain younger employees who prioritize healthy work environments.
“We pride ourselves on creating unique places to live and work, and today the appropriate focus is on people inside these spaces and how their health is affected,” said Charlie Kuntz, Innovation Officer of real estate and development firm Hines.
Hines has long supported IWBI and was a founding member of its WELL Living Labs, a sector that studies how indoor environments can boost health and wellbeing.
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The spike in demand for wellness in the workplace most likely has to do with the insurmountable evidence linking productive workplaces with public exposure of research on the topic.
A study released by global real estate service provider Stok scrutinized the lack of wellness research that could calculate the financial benefits. Research such as this “touched on the Holy Grail which joined research with practice,” according to Rachel Gutter, IWBI’s President.
As more developers and owners embrace wellness, it leaves the importance of certification up in the air. Some see WELL and Fitwel certifications as being like badges, but as wellness becomes a standard in spaces, firms will less likely depend on them.
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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.