Miami’s office market continues to be dependent on coworking firms to fill their spaces, but some landlords are concerned that their absorption rate is becoming too much.
Remote working is taking over
When offices started embracing open office spaces by tearing down cubicles, the hope was to push a more collaborative, productive atmosphere. By 2010, almost 70% of office workers worked in a space with no walls or low walls.
But as research shows, employees are not fans of the open office model. With little to no privacy, it is difficult to be productive in a noisy space.
These spaces do not necessarily harvest good collaboration either. A study by Harvard University’s business school found that open offices reduce face-to-face interaction by 70% and increase email and messaging by 50%.
Despite this, open plans continue to take the office design world by storm. A CBRE research titled The Asia Pacific Occupier Survey 2018 found that 45% corporate real estate executives plans to increase their corporate real estate portfolios in coworking spaces to promote innovation and creativity.
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Now, workers are aiming for positions that allow them to work from anywhere at anytime. Being able to simply trust that employees are being productive when working remotely can be a challenge, but one way to ensure this is having management teams lead by example.
“The evolution towards more agile workplaces means that a big driver for modern workplace design is the facilitation of collaboration across teams, locations and even countries,” said Amanda Stanaway, principal of global architecture firm Woods Bagot. “Clients also prioritize ease of communication between workers and integration with technology – asking designers to find ways to prompt workers to engage with spaces intuitively as well as providing multiple settings for teamwork.”
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Gym-coworking hybrids have gained traction recently, allowing members to be productive at work while encouraging them to take care of their physical and mental health.
The 2019 Global Coworking Survey has revealed that there is to be 2.2 million coworking members by the end of this year and identified the state of the industry so far.
Office Depot has been testing out coworking spaces within three of their existing locations in an effort to expand its current services and drive traffic into stores.
Just ahead of its IPO, WeWork has signed four new Manhattan leases to open its “Headquarters by WeWork” offering dedicated to providing un-branded spaces for clients.
Despite the coworking industry seeming congested, operators are not concerned about the competition as each coworking space gears its services to a specific audience.
Flexibility in the workplace has become a common option for workers, but some firms are going further by becoming 100% remote so staff can work from wherever they please.
Coworking firms, such as WeWork and Knotel, have been rapidly expanding their footprint in New York’s Flatiron District as it becomes the city’s hub for shared offices.
British brand Established & Sons have introduced four new furniture designs that aim to create a more comfortable workplace, while also being functional to homes.
Condeco’s newest research paper found that 41% of employers offer remote working, thanks largely in part to major technological advancements that are sweeping workplaces.
Industrious is partnering up with national retail and mixed-use developer Seritage Growth Properties to brings its coworking spaces into five of the retailers locations.
Companies have accepted that wellness in the workplace should be prioritized, but the trendiness of it can overshadow what is most effective — starting from the basics.