What Office Landlords Spend on Amenities to Draw Tenants

What Office Landlords Spend on Amenities to Draw Tenants

At the start of the pandemic, property owners were spending on HVAC systems, cleaning supplies and signs directing people away from high-touch surfaces and each other. Today it’s the more unconventional amenities’ time to shine — doggie daycares, beehives, grab-and-go cafes, and golf simulators among them. But the perk gold rush comes at a price — and a high one for full-floor amenity spaces.

How to Know When It’s Time to Go From Coworking Space to an Office

How to Know When It’s Time to Go From Coworking Space to an Office

For growing companies, coworking spaces can become overly expensive when headcount increases significantly and many companies find it’s time to level up to their own space. 

One of the clearest signs a company is ready to transition to more permanent office space is when it has outgrown its coworking space. As a general rule, companies should think about moving into a short-term lease or sublease when they have more than 75 employees. 

Cost is usually the primary factor that leads companies to seek their own office space. Using average figures for coworking desks and office space square footage, at $1,000 monthly per head, a coworking space would cost $900,000 per year for a staff of 75. Comparatively, with an average asking rent of $45 per square foot per year in major U.S. markets — assuming a firm would need approximately 12,000 square feet for a staff of 75 (160 square feet per employee) — its yearly cost would be $540,000.

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Why Ivanhoé Cambridge Views Office Occupants as Guests

Why Ivanhoé Cambridge Views Office Occupants as Guests

The Canada-based firm takes a page from the hospitality playbook. Just as hotels compete daily to provide the finest in guest satisfaction, Ivanhoé Cambridge creates seemingly bespoke experiences via workspace amenities designed to encourage personal interactions with a focus on quality, and where details matter.

“Tenant experience is not a buzzword — it’s mission critical,” says Jonathan Pearce, executive vice president of leasing and development for Ivanhoé Cambridge.

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Did COVID-19 Really Change the Office Forever? We’re About to Find Out.

Did COVID-19 Really Change the Office Forever? We’re About to Find Out.

The conventional wisdom is that the office will remain the fountain of company culture and anyone who wants to drink from that fountain will have to come in, at least some of the time, to see their colleagues, to collaborate with them, and to make sure their bosses at least know what they look like. Certainly, CEOs want it that way, both to justify what they are paying landlords for their high-end offices and to impart their central message to their workers.

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Google Relaxes Mandates, Opens Amenities as it Prepares for Workers to Return

Google Relaxes Mandates, Opens Amenities as it Prepares for Workers to Return

Google is dropping some Covid-related mandates for employees and restoring perks back to its headquarters as it prepares to bring workers back to the office.

Google Real Estate and Workplace Services VP David Radcliffe wrote an email to San Francisco Bay Area employees this week explaining that the company is relaxing some rules around vaccines, testing, social distancing and masks.

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