Tenants Desire More Flexibility In Their Leases

Tenants have started adding coworking spaces to their leases as part of their strategy to get workers back into the office.

For example, North American Properties is in the midst of a $400 million redevelopment of the Colony Square complex in Midtown Atlanta. The tower will include 940,000 square feet of office space.

As companies navigate how to utilize their real estate moving forward, many have turned to flexible offices to better accommodate employees and keep them satisfied.

Another example includes Cooper Carry, which has removed 25% of its workstations in its Atlanta office at One Ninety One Peachtree Tower and added flexible work environments instead.

Instead of on-site fitness facilities and other lavish building amenities, workers really desire hospitable services and flexible space.

“Most people who are coming into the office are coming in for a meeting for one to two hours,” Amanda Wing, principal at architecture firm Smallwood. “They don’t want to have to go back to their office on the 15th floor to get that heads-down time that they had when they were at their home previously. So having those breakout spots is even going to become more crucial.”