It’s no surprise that square feet per office employee is declining. The open office concept is changing the world and the biggest user of office space in this cycle is…..Tech companies. But this trend has been coming for a long time; see the graph below.
In addition to the SF per employee graph there are two others below that are very interesting. Class A properties lease sizes are steady but B and C properties are declining. Finally, which industries are shrinking their leases? The answer: Accounting, Insurance and Law firms.
Is this true for your office? I want to hear about it. Give me a call.
P.S. After sending my series on Tech companies’ headquarters in January, I am now following the world’s largest, coolest companies and what they are doing with their HQ. Uber just unveiled their new design. More to follow as I keep looking for the latest and greatest.