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Commercial Office Space Still Vital in 2021

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Offices Expected to Remain Important to Businesses

The results of a recent CBRE survey reveals possible trends in the commercial office space sector for the coming year. CBRE, a leading global commercial real estate services provider, completed its most recent Future of Office client survey in September 2020. The company completed a similar survey in June of last year.

The survey focused on senior-level global real estate executives and covered a broad industry mix. Of the 77 participants in the survey, 50 percent represented Fortune 500 companies. In both the September and June surveys, the executives shared their thoughts on shifting sentiments about office location, design and use of commercial office space. Both surveys show a notable shift in sentiment about office space as the COVID-19 pandemic continued through the year.

Yet despite the shifts in sentiments, survey results show that commercial office space will continue to play an important role in corporate operations, at least for many leading companies.

Are Offices Still Vital?

According to CBRE, the goal of both surveys was to “to uncover the evolving workplace practices and trends that corporate leaders identify as central to their real estate strategies and how their sentiments toward the office environment change over time.”

When asked to estimate the amount of remote work their companies might offer in the future, the September survey showed 14 percent of respondents felt their organizations would not offer a remote work option in the future, up from 10 percent in June. Nearly 50 percent of the respondents reported that between 25 percent and 75 percent of their employees would work remotely, up from 38 percent in June. 

Yet only 3 percent thought that more than 75 percent of employees would work remotely full-time, down from 5 percent in June.

The Role of the Office

On the September survey, all respondents said that commercial office space “provides a place for employees to collaborate, innovate and be productive.”

All respondents also agreed with the statements that the office “provides a place for the company to reflect its brand and culture” and “provides a place for employees to experience community and social interaction.”

A bit over 87 percent of respondents also believed that the office provides a place for the company to engage and attract talent.

While the role of commercial office space continues to evolve, the survey shows that many leading executives view offices as continuing to provide a value to companies. 

Positioned for Success

Miller’s Landing in Castle Rock, CO, is at the forefront of creating innovative commercial office spaces that meet the evolving needs of companies. Recently, we unveiled plans for a new 150,000 square-foot multi-tenant office building.  The building will provide versatile office space that meets modern health and safety demands in the era of COVID-19.

Rise Commercial Property Services will market the new office building.

Miller’s Landing is the Denver metro area’s newest and most innovative mixed-use commercial development. It will feature a dynamic town center with exciting retail, restaurant and entertainment options along with sustainable commercial office space, a resort hotel and spa, conference and meeting facilities, ample open space and easy access to the region’s leading outdoor recreation park.

Named a Best Place to Live and Work

Castle Rock is a popular south Denver suburb located on the I-25 corridor. It’s consistently rated as one of the best places to live and locate a business in Colorado. The community offers a charming small-town atmosphere with easy access to big city amenities in nearby Denver to the north and Colorado Springs to the south.

The town is regularly named one of the best places to live in Colorado and the U.S.

Miller’s Landing is the only place in Colorado that’s exploring the fringes of the future by building a smart, dynamic new town center that creates a direct path to new personal, professional and recreational opportunities every day.

From hospitality, retail and community gatherings to professional opportunities and individual adventures, Miller’s Landing will be an exciting place to build the future and make lasting memories. Join us!

Have an Idea? Let Us Know!

Listening to the community remains a top priority at Miller’s Landing, especially as we navigate the rapidly changing markets for hospitality and office users. We look forward to continuing our conversation with you on the next steps for Miller’s Landing.

If you have thoughts or ideas about Miller’s Landing, please share them with us. The Community Share section on the Miller’s Landing website offers a section to share your thoughts with us. We welcome your involvement!

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