Real estate giant Colliers has released its forecast on how CRE companies, developers and owners can pivot into the new normal in the world. Flex Forward Report 2022, Courtesy of their team of Workplace Consultants.
The team identified ways to meet a variety of occupant needs, including full-time work from home options and support for hybrid work arrangements, as well as ways to improve the tenant experience for those who prefer to keep traditional workplaces.
1. Merger of retail strategy and office fit-out strategy
In the past, asset owners managed their retail and office equipment strategies in separate portfolios. Today, Necklaces’ experts felt that it would be wise to integrate these strategies.
Depending on the building and the direction chosen by the asset owner, there is a new need to observe the needs of the target occupants / occupants of a particular building or portfolio and evolve into a more complete suite and integrated with significant amenities in order to elevate the tenant experience.
To do this, the report presented two alternatives for asset operators: offering end-to-end solutions themselves or outsourcing to a trusted partner operator.
For the latter option, the consultants said that individual offerings such as fitness, health, food and beverage, hospitality, technology and flexible workspace could be part of the product line under- treated to the best operators in the sector.
An operator that offers all of these amenities is ideal for tenants because it can provide a seamless experience for occupants, according to the report.
In addition, Necklaces‘ Experts stressed the crucial role of content creation and programming, as “how these end users ultimately interact with a building will be fundamental to real estate decision making.”
2. The rise of flexible workspaces
There was a time when flexible workspaces were seen as just a complementary or short-term product offering.
However, the rise of agile teams has increased the demand for this working formula and ultimately an integral part of CRE’s strategy from the start of the pandemic.
“The flexible workspace and the traditional office will blend together to become workplace solutions, and industry professionals viewing both in binary terms will dissipate,” the report says.
3. Diverse product line
Technology providers, operators and asset owners are all expected to launch new and diverse product solutions in terms of services, experiences, wellness and sustainability, in addition to physical locations to meet changing needs. occupants.
“In addition, and much like the hospitality industry, we believe there will be continued product diversification – from cost-effective solutions to high-end, high-end solutions. The sector is maturing and the choice of solutions will continue to widen, which will only benefit the occupants, ”underlines the report.
4. Quality is king
Yes, quality is the key. But as occupants also aspire to provide the best working environments for their team, quality is also king.
“With the war for talent and a quality workforce peaking in the second half of 2021 (and through 2022), occupants know that without a quality real estate environment and flexible work guidelines, they will eventually lose their employees to competitors, ”acknowledges the report.
Some of these provisions mentioned in the report that may uplift the real estate environment include quality technological infrastructure, wellness rooms, accessible location, air quality, mothers’ rooms, medical services and sustainability.
5. The end of greenwashing
Say goodbye to greenwashing and hello to reducing carbon impacts.
The report found that the ripple effect of the World Climate Summit “Conference of the Parties,” or COP26, has reached corporate real estate with heightened awareness to meet environmental, social and governance standards. business (ESG).
“As occupants shift their focus further away from the impact of their office use, the flexible workspace industry can lead the way. The carbon impact of office occupancy is not only the building, but the layout, operations and the impact of travel on staff, ”the report stressed.
In summary, Collier’s report states that asset owners are carefully examining their product line and delivery approaches, resulting in a greater number of non-traditional deals with operators, reducing conflicts between flexible products. and main.
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