Empty or half filled office parks in your neighborhood? Notice a lot of offices seem empty of people?This Wall Street Journal article talks about reuse in the changing office market.
I joked about this with a friend a few weeks ago. Told him a developer was converting the office park in North Quincy to apartments and a multi-use. It isn't true, but it could be.
Office use has changed dramatically since the 2008 downturn.
First, the electronic workplace has reached new plateaus liberating employees from their desks. In an electronically liberated workplace employees can come and go from the headquarters, office, work at home, or work from a remote location.
Second, as commercial leases expire, a number of companies are sending people home to work to avoid new leases (locally John Hancock). Some companies are not going to send people home (bio-tech for one), but many will.
Third, younger organizations and younger people are not tied to cubes and desks like the legacy companies.
Won't companies be doing more with less space? Yah baby, changing work spaces.
Office Parks Get A Makeover (WSJ)
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