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    What will the office market look like in 10 years’ time?

    We asked a panel of office property experts for their predictions for the sector.

    Showcasing firms’ core values

    “The future office is the product of current trends and movements in society including flexibility, experiences and sustainability. Further, location and access to public transports and amenities will be a key for tenants to recruit talent in a competitive market.

    The office will be a place where people meet to share experiences, cooperate and feel part of the community. The transition from the individual working station and the big conference room to smaller team meeting rooms and activity-based working is therefore expected to continue.

    The office will also be part of branding and correspond to firms’ core values. As companies, for example, commit to environmental initiatives, the office will need to be aligned and comply with such commitments.”

    Magnus Berglund
    Partner, head of CapMan Real Estate Norway

     

    Providing a ‘we’ space, instead of a ‘me’ space

    “Office does have a future; it just looks different than the past. What will attract employees to return to the office won’t be a sea of cubes where people go to a computer and send emails all day. They can do that from home. Instead, the office of the future will be a responsive, energetic space that provides the right experience, featuring more ‘we’ space instead of ‘me’ space to meet cultural and social needs.

    Additionally, we will see more choices and flexibility in lease options to respond to tenants’ changing needs. And successful buildings will be ‘healthy’ with such attributes as an improved ESG footprint, optimal indoor air quality and natural lighting, touchless technology and outdoor amenities.”

    Robert Perry
    President, Americas real estate division
    CBRE Investment Management

     

    Bridging the digital divide

    “We expect the office market to remain a desirable asset class for users and investors over the next 10 years as companies continue to repopulate the workplace. Office owners in the best locations and that incorporate the best amenities, services and truly cater to the needs and wants of the workforce will see the most leasing demand.

    Technology will also continue to have a strong impact on office. Building owners and operators will increasingly implement tech features that make operations more efficient for users of office space and bridge the digital divide for those opting for more of a hybrid work model.

    Additionally, health and wellness will continue to be a top priority for tenants. Office owners will continue to place an emphasis on amenities that promote health at the office, such as filtered air and contactless features.”

    Giovanni Cordoves
    Western regional president
    KBS Realty Advisors