Your office space design plays a big role in how well your business performs. It also impacts how successful you are with employee satisfaction and retention. Here are three important factors to consider when you redesign an office space. 1.Modernize your office space to boost your brand and employee morale. Nearly two-thirds of U.S. employees are not fully engaging in their jobs which reduces productivity and costs the economy between $450 and $550 billion a year in lost productivity. This…
The growth in the number of people who live and work in the area has increased demand for office space in Charleston according to research done by Marcus & Millichap, a California-based commercial real estate brokerage and research company. New business headquarters and centers are interested in renting office space in Charleston as a result of increased employment and population gains in the Lowcountry. Charleston Employment and Vacancy Rates Charleston increased total employment by 1.5 percent since last year with…
Online shopping continues to transform retail and is reshaping the real estate market as well. Retailers used to house merchandise in department stores with many floors above the street level. In most cases, this was without office space. Now there is a shift, evidenced by real estate investors seeking to have a more mixed-use space. In Manhattan, this trend to edge out retail for offices is becoming more prevalent. Normandy Real Estate recently invested $133 million to convert several floors…
Charleston is seeing historically low vacancy rates and will continue to as a result of ongoing tight market conditions. The vacancy rate at the end of the third quarter of 2017 went down from 7.9 percent to 7.4 percent, according to the latest Collier International Research & Forecast Report for the Charleston region. As a result, rental rates since 2016 have increased by 14.3 percent from $23.55 per square foot to $26.92 per square foot in 2017. Overall there have…
Summerville expects rapid growth in office buildings and commercial space in the coming years. The latest analysis from Colliers International Research and Forecast Report states there are several key factors that make the area ripe for growth in office space: The Summerville submarket has an established residential growth market. The large supply of available residential land in highly sought-after public school districts. The area already has 2.5 million square feet of office space entitled around the US 17 and Sheep…
Most workers spend their days staring at a laptop screen, taking only quick, infrequent breaks. But Careful planning can improve the aesthetics of the workspace, and improve the employee’s ability to engage with coworkers when it is time to break from the virtual world. Design spaces to help people connect When designing or renovating a new office, identifying how the space will be used by employees is essential. A well-designed workplace creates spaces for group collaboration and individual work, in…
More than 3000 attendees from the ShopTalk conference came to talk about the health of retail shopping in response to recent declining quarterly sales by a number of box stores, including Macy’s, Target, and Kohl’s. These stores are seeing the need to cater to online shoppers and those individuals looking for deals at discount shopping outlets. Some analysts speculated that Amazon could supplant Macy’s during the next year as the lead seller of apparel and other goods. Steve Lowy, co-CEO…
Charleston’s successful retail market has attracted tenants to new and redeveloped space, resulting in a total vacancy rate of 5.4 percent for the market. Retailers who are seeking high traffic and prime visibility space are finding their options limited. Various factors are motivating investors to shift their focus from Mount Pleasant and downtown Charleston to the West Ashley retail market. Colliers International released its 2016 Research and Forecast Report (Q1) on retail space. It reports that as vacancy rates have…
The aesthetics of your office is likely not your top priority, and certainly, it should not carry the same weight as your business strategy or client needs. But considering the look and feel of your office space is important as the design of your office speaks volumes about your company’s brand. Proper space planning not only helps create an office that reflects your brand well, but it can also help to increase office productivity and morale. If you’re unsure whether…
Charleston, SC has long been a city that has attracted new residents, but recently it has been growing at a much faster rate, and experts predict that this growth is only going to increase. The New York Times referred to Charleston in this season as “enjoying a robust economy and one of the most transformative regional population booms since the Civil War.” And the Charleston Metro Chamber of Commerce is also predicting a very positive economic turn for the area,…
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