Friday, April 1, 2022


U.S. Office Leasing Dropped Again In February As Market Struggles To Gain Footing

What can we learn from the first metaverse workspaces?

'Work-From-Home and Co-Working Form a Symbiotic Relationship

News

Two years after COVID-19s emergence, office return trends continue in fits and starts. Despite being flat for the fourth consecutive month, employer demand for office space was up 31 percent year-over-year, according to a VTS Office Demand Index (VODI) analysis.

Demand for office space closed out the second year of the COVID-19 pandemic down 47.1 percent from February 2020, the last month prior to the declaration of the pandemic.
Whether due to another wave of the pandemic, the highest inflation in decades or geopolitical uncertainty, demand among U.S. office tenants continued to cool down in February.

CBRE's U.S. Leasing Index dropped by 18 points in February to 76, the firm said Thursday, the sharpest month-over-month decline in leasing activity since the Dallas-based real estate services giant began tracking the data in March 2020, with the largest drops in leasing activity seen in Seattle, Atlanta and Denver.
After two years away, many office workers are returning to their desks for the first time. In many offices, it was like a time capsule. Calendars still open ...
To entice employees back to the office, companies will need a new type of space that prioritizes well-being and location preferences. Cue Seven Tower Bridge.

The Workplace

The return to the office has been a media obsession since at least early 2021, when COVID vaccines became available. It has become somewhat of an American
Jonathan Price explores the requirements for net zero targets in the UK and how this will impact flexible space operators.
Ann Hoffman of FCA shares tips for measuring the hybrid workplace and the new performance metrics we should consider.
Supervisors are called on to help people navigate personal challenges, whether or not they have the training to do so.
The COVID-19 pandemic accelerated the shift to hybrid work arrangements, where employees spend a portion of their workweek in the office and the rest of the time working remotely.
PDR’s Larry Lander explores why old metrics may no longer serve as useful benchmarks as we return to work.
Priorities and work styles have shifted in the past two years, so learning what employees value and what motivates them is critical to retaining them. A study published today by Morning Consult aims to help employers categorize their people’s values and motivators.
Location is only one piece of the puzzle when it comes to remaking the 9-to-5.
Companies are investing in state-of-the-art air ventilation to combat the heightened anxiety people have when entering buildings with poor indoor air quality, including workplaces, post Covid-19.
Many workers want to carry over the working flexibility that the pandemic afforded into the post-pandemic world and a new future of work

Trends

Lia Malihi and Elizabeth Muscroft of Cooper Carry share how to create intuitive, purposeful, and comfortable reception areas.

Hybrid Working

New research reveals that outdated offices are no longer conducive to hybrid employees needs for greater control, comfort, and privacy.

WFH

It should come as no great surprise to learn that data from Leesman, the world’s leading workplace analyst, found that the chair was seen by remote working employees as the second most important feature in creating a productive working from home environment. Cited by 90 percent of people, it was narrowly beaten into second place only by a desk or table (91 percent). A ‘mere’ 89 percent of people cited WiFi, which is what you may have assumed was the most important need of remote workers, especially given that Hierarchy of Needs meme we’ve all seen. That needs to be reworked because clearly broadband matters slightly less than comfort and safety.

Metaverse

Here’s a look at three early concepts that go further than the current imagination and indicate the ways in which online work might develop.

Real Estate

The effects of the pandemic have changed how developers are executing their plans for residential buildings: from adding video doorbells and new package systems to building bigger living spaces and home offices.

“It's not just about the architecture anymore. You could design a nice space, the lobby could be fantastic, but what extras does it have?” MG2 Design associate principal Victor Malerba Jr. said at Bisnow’s Tri-State Annual Multifamily Conference last week. “What’s the extra sauce?”
Office occupancy has continued to be a worry for investors, owners, operators, and even tenants who want workers back in the office. It has generally risen of late, with the first quarter showing higher rates and rents. But even then, there’s enough vacant office square footage that it could take nearly three years to absorb all of it, and that’s assuming widespread physical obsolescence doesn’t push people away and drive rents down to a point where many buildings may no longer be financially viable.

CBRE Research says that the so-called Great Resignation—an historically large voluntary departure of people from their jobs—is making employee acquisition and retention more difficult and, as a result, putting even more pressure on occupancy rates.
It’s not their first choice, but the pandemic has forced changes on a market still struggling with historically high vacancy.

Coworking

Co-working offices will serve a new purpose in the post-pandemic world. Rather than serving start-ups and entrepreneurs, as they did before the pandemic, co-working offices have found a new demand pool among work-from-home employees at larger companies.

“Many employees of larger companies who are given the option to work from home are choosing to work from a co-working space or follow a hybrid approach instead yet most larger companies continue to seek traditional space for their central office locations,” Eli Randel, chief strategy officer of Crexi, tells GlobeSt.com.

Makers

MillerKnoll’s third quarter consolidated net sales were $1.0 billion, reflecting an increase of 74.3% on a reported basis and 20.3% organically compared to prior year. Orders in the quarter of $1.1 billion were 93.6% higher on a reported basis and increased 31.5% organically over the prior year. Sales and orders reflected organic growth across all business segments.

Sales growth continued to be constrained by the company’s ability to produce and ship orders due to the impact from global supply chain and labor supply disruptions. They estimate these disruptions adversely impacted net sales by approximately $34 million during the quarter. The company says it has implemented a range of countermeasures to combat these pressures and began to see improvement in production levels in the second half of the quarter.
DIRTT Environmental Solutions provided an update on its strategic account initiatives, geared mostly towards those who think the company is doing poorly.

Aligning with improving market conditions reflected in the latest Dodge Momentum Index, DIRTT is working alongside clients who are capitalizing on opportunities to increase their real estate footprints and grow their portfolios while actively pursuing efficiencies in the design build process by implementing a programmatic approach to project execution.

“An effective strategic accounts program must focus on high-quality consistent execution at the project level while also building a platform for future growth,” says Mark Kinsler, director of Strategic Accounts at DIRTT.
 
Carl Bush, executive vice president, Facilities at Frost Bank agrees. Sharing that “working with DIRTT to design and build over 30 branches, along with over one million square feet of office space, has enabled Frost Bank to meet all our ambitious construction schedules and achieve our growth and sustainability goals.”
In celebration of its 40th anniversary, Allseating is pleased to announce its new commemorative logo. Founded in 1982 by Gary Neil, Allseating has been a leader in the design and development of seating solutions for over four decades. The new logo incorporates aspects from the 1982 version and will be used throughout this year for marketing, events, and promotional materials.

“We are excited to introduce this new logo as a symbol of Allseating’s return to its roots, while also looking forward towards its future,” says Paul Vendittelli, President of Allseating. “We have been a leader in the industry for 40 years, and we look forward to continuing to lead the industry in delivering stylish, intuitive, and affordable solutions for many years to come.”

Dealers

Henricksen, a full-service contract furniture dealership specializing in office, healthcare, education, government, senior living, and hospitality spaces, announces it has acquired COFCO’s expertise and legacy of excellence. With 75 years of experience providing contract furniture, refurbishing, and logistics expertise to prestigious clients in numerous industries throughout the mid-Atlantic and northeastern regions, COFCO joins the Henricksen community with aligned business values. Together, the companies solidify their commitment to building and maintaining long-lasting relationships with clients and manufacturers while investing in new technologies and capabilities, providing the best service experience in the country. As of April 1, 2022, COFCO will officially change its name to COFCO, A Henricksen Comompany.

Products

Power supply leader ECA by Dekko announces the launch of Electrolite™ – a first-of-its-kind portable power outlet for the contract furniture industry because it combines configurable power with 360-degree intentional design.

“Users and specifiers can configure nearly every aspect of Electrolite to fit their specific needs. No matter what angle you view the product from, its consistent form can be felt,” Dekko General Manager Rick Fox said.

With its high level of customization, Electrolite™ can be made for virtually any space.
Crafted with an angular beechwood frame and lacquered steel magnetic writing surface, ANGOLO is easy on the eyes and easy to put together.
A wall lamp that illuminates a whole room, Oplight by Jasper Morrison is a future-proof lamp, conceived specifically with sustainability and longevity in mind and to be thoroughly recyclable at its end-of-life.
3form introduces a woodland-inspired Graphic Patterns Collection that looks no further than their backyard for inspiration.
The Burch Design Studio introduces Cheer, Glee and Jovial - a trio of textures ready to mix and mingle.
The new Radient creates a diffuse halo of light, pairing minimalist design with the texture and warmth of solid, sustainably harvested wood.
Composite Fabric Leader Launches Innovative, Durable Window Covering Fabric to Meet Residential and Commercial Needs.
The fabric “Hemp” by Camira has been convincing architects and designers for many years and was already ahead of its time when it was launched.

Projects

One year after launching a Shanghai branch, Clou’s Beijing office has now expanded into sparkling new premises. Award-winning international design studio Clou has just opened the doors to its contemporary new Beijing office. Located within Sanlitun SOHO, the space has doubled in size to occupy half a tower floorplate on the 17th floor.
Social media management platform Hootsuite has unveiled the opening of its 8,390 sq ft re-imagined office ‘London Nest’ which is located on the sixth floor of LABS 90 High Holborn, a landmark building located in London’s Knowledge Quarter. Alongside leading flexible workspace providers, LABS, Hootsuite’s redesigned Holborn-based office space puts workforce preferences, employee wellbeing and the future of work front of mind.

Noted

The newly formed Eames Institute is focused on taking objects and methodologies from the Eameses’ practice and sharing that knowledge with the world in hopes that it will inspire solutions to thorny problems. The Eameses already have a cult following among design aficionados, including Airbnb cofounder Joe Gebbia, who is backing the initiative. The Eames Institute aims to broaden their influence.


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