Economics: The Future of Office Real Estate

Chris Lee, President & CEO of CEL & Associates, Inc., published his July 2013 e-newsletter this week, and it is filled with useful information on the future of office real estate, including how generational differences are causing a shift in how office buildings are used.

The Great Generational Transfer of Power and Office Space utilization is underway. The in-power Boomers will give way to the connective channel of expectations of the Millennials. From fixed space to collaborative space, from working in the office to working remotely and from 9-5 to 24/7 work schedules, this generational transfer is having a major impact on office space design and demand.
Lee Table

This is quite a shift in both attitude and square footage –  from 350 sq ft a person to less than 150.  Now you need a laptop and phone and you can work anywhere – not just in an office.  How will this impact the future of office real estate?  Read the full article here:

Sign up for the Strategic Advantage to get the monthly newsletter and stay up to date on Lee’s economic forecasts.  And join CORFAC at the 2013 Fall Summit in Washington, D.C., September 9-12 to discuss the future of real estate from speakers like Duke Keuen, Leann Tobias, and Curtis Spencer.  Learn more and register now!