Joseph Armano’s Post

Useful insight into occupiers workplace strategy. It is clear we are getting more staff back into the office and companies are enjoying the collaboration and buzz of what a busy office can bring. #offices #workplace #realestate #officedesign #London #occupiers

The European Office Market Is Much More Healthy Than the United States Market   The european office market, with a current vacancy rate of around 8.7%, appears healthier than our U.S. rate of 20%. There are varying reports of what the occupancy levels are, with one report stating that 70-90% of European office workers are back in the office, while another report had this sfigure closer to 57%, getting to 64% on Tuesdays and Wednesdays. In the United States for the most part we are still stuck at 50%. Bottom line, it appears living quarters for Europeans may be much smaller than that of the United Sates making it much more challenging to work from home. If the normal couple lives in a one-room apartment it can be difficult to set up a workable home office. #internationalofficemarket; #EuropevsUSOffice;#SIOR;#OfficeMarket    

* A survey by Furniture At Work UK found that 70% of UK home workers felt their productivity was hampered by a cluttered home office. * Cluttered workspaces are linked to higher stress levels and reduced focus, according to a study by the University of Exeter. Can you provide a tip that’s simple and easy for someone who’s suffering with overwhelm in this area? Blog: Back to Basics - Home Study https://lnkd.in/egH-mn_m

Hopes for a mass return-to-work have not materialized and with nearly two years of stabilized trends, it appears that current attendance levels are now the norm. Additionally, slowing office employment growth has resulted in further occupancy drops and higher vacancy. While recession fears appear to have receded, the outlook for the office market is still downbeat. Download the Q1 office report to learn more. https://bit.ly/4beDmMv

🚀 New Federal Work Mandates: A Step Forward or a Missed Opportunity? 🚀 As we pivot towards a post-pandemic work landscape, the federal government's recent announcement mandates federal staff to be in the office at least three times a week starting in September. The intention? To boost local businesses like sandwich shops and dry cleaners in downtown areas. Meanwhile, there's a simultaneous move to reduce office space, let leases expire, and promote hybrid workspaces without assigned seating. Here's where it gets perplexing. Mandating physical presence without equipping staff with optimal tools and environments seems a tad counterintuitive. It can lead to frustration and obstinance. Classic example: if team members are scattered across provinces and constantly on virtual calls, wouldn't it be more logical to allow them to work where they're most effective? Ottawa's downtown has the potential to be more than just office space; it could be a vibrant hub that people are excited to travel to—not because they have to, but because they want to. For this vision to materialize, I think two key changes are necessary: Transform Work Environments: Offices need to be more than just places to work; they should be spaces where creativity and collaboration are fostered, making employees genuinely excited to come in. Create a Natural Pull to the Area: Beyond the confines of office walls, downtown Ottawa should offer attractions and amenities that draw people in, turning it into a destination of choice. It's time to rethink how we can make our workspaces not just mandatory stops in our daily routines, but places where innovation and community thrive. Darren Fleming, MBA Trevor Hilko Lee Wagner, CPA, CMA Jacob Sancartier Belkisa Plehandzic Naomi Carkner #Ottawa #GovernmentPolicy #HybridWork #WorkplaceCulture #Innovation

Great article from Placer.ai taking a look at office building visits from 2019 to now, when workers are visiting the office throughout the week, and the uneven recovery in office visits depending on geography, demographic, and quality of office building. I would recommend reading the full report, but some takeaways I had: - Office visits are generally much higher mid-week (Tues - Thurs). Visits are light on Monday, and even lighter on Friday. - For most office buildings, office visits are still well-below their 2019 peak. - That said, there are also overperforming office buildings where visits have exceeded their 2019 peak. These buildings are generally those that serve a large contingent of single-person household employees. - Households and workers with children were less likely to visit the office throughout the week, and metros with higher concentrations of family households saw a slower recovery in worker visits. - Much has been written on the challenging impact that return-to-office mandates can have on working mothers – so this should not come as a surprise: https://lnkd.in/gePnRvXj - Finance, Real Estate, and Tech tend to be industries with higher in-office attendance - but the Return to Office story is still being written. Appreciate the share from our CBRE Retail Head of Americas Research, Brandon Isner, from earlier in the week. Full Article from Placer.ai: https://lnkd.in/gr376miY #placerai #returntooffice #workfromhome #remotework #cbre #office #retailrealestate

According to this latest research, UK offices are rarely achieving much more than a 30% average daily occupancy rate. That is roughly half what it was pre-Covid and probably explains why so many businesses have been cutting back their office space. Unsurprisingly, occupancy rates are consistently higher on Tuesdays, Wednesdays and Thursdays with Fridays remaining the least popular commuter day. Interestingly, London is leading the way with occupancy rates in some prime buildings now achieving pre-Covid levels of 70%-80% albeit, just on Tuesdays, Wednesdays and Thursdays! So what are your office habits and would you work for an employer that insisted on 100% office attendance Monday to Friday?

Office attendance continues to evolve, with foot traffic in major markets reaching 66% of pre-COVID levels—the highest since February 2020. New York City and Miami led the charge, with visits at 86.2% and 82.6% of October 2019 levels, respectively. South Florida shines as a leader, with Fort Lauderdale surpassing the national average for office attendance for four consecutive years. Investments in public spaces and cultural venues have fueled its success as a dynamic employment hub. The return-to-office trend is driven by innovation, from flexible hybrid models to workplace dining programs that keep employees engaged. Read more in the Commercial Search article below.

Bayleys' Auckland Office Workplace 2024 is out now. Dive into insights on the rising importance of workplace quality, attendance management, and other initiatives driving office leasing trends. Bayleys Real Estate

Are UK office occupancy levels really reaching post-pandemic peak? New data suggests that UK office occupancy rates have risen to their highest level since the start of the pandemic. Although still below pre-pandemic levels, the data indicates a gradual return to more office-based work patterns. Before the pandemic, the same report indicated that the typical occupancy rate for an office tended to vary between 60% and 80%. The most recent report, to the week ending 8 March, showed average office occupancy hit 35.9%. While still significantly below pre-pandemic levels, this is a marked shift as part of a long-term upward trend. The rise in occupancy is particularly notable in regional cities across the country. The report says that this development bodes well for the office market, benefiting investors, landlords, and businesses reliant on office workers, including retailers and food and beverage operators. In London, more office occupiers are returning to physical space, leading to increased trade for food and beverage establishments, which the report says encourages office occupancy levels. Workers cite the desire to meet people face-to-face as a key reason for returning to the office. However, the commute remains a significant factor influencing their decisions. team@spacepoint.co.uk | #spacepoint #londonofficespace #commercialproperty #workspace #workplace