So what does that mean for
commercial real estate?
A company’s office space is no longer thought of as just a place with four walls that
people walk into in the morning, close the door, then leave in the evening. Today’s
office has become much more valuable. This is where colleagues collaborate, learn,
teach, and work together to accomplish shared goals.
Additionally, the modern office space has developed into a tool for firms to recruit
and retain talent while remaining one step ahead of the competition. In fact, the
strong growth from the tech/med-tech industry has influenced the design of new
commercial real estate developments and creative office conversions to appeal to
companies from these industries.
The relationship between commercial real estate and the tech/med-tech world is
also visible when looking at the significant impact these companies have on
property valuations. The location of a company’s office factors into whether or not
they are correctly positioned to hire the necessary talent to be successful.
Essentially, Location, Location, Location brings Talent, Talent,
Talent to a company!