Real Estate Affects Office Furniture
How can real estate affect the office furniture industry? Simple. With the demand for a more flexible space that allows companies to maximize their offices, it has been directly affecting the demands for office furniture that are flexible and green enough to fit in.
It has been noted that the average price for an acre of empty land amounts to nearly $800,000 in the first quarter, which increased 13.2 percent from the first quarter of 2006. This is according to an economic research firm. Just imagine this increase when four years ago, local raw land was selling for $250,000 an acre or less. This steep price increase mean that developers are going vertical. They are now building office complexes of six stories or more to spread land expenses among more tenants. But since taller buildings require costly steel frames, no developer will finish an expensive steel tower with Class B touches.
As a result, no lobbies, corridors, public rest rooms and other common areas shall be crafted with marbles, granites and other decorating elements that were said to really lend a quality impression upon entering the building. Hence, a competitive office market demands upgraded interiors—and this is not just about the office furniture.
An architect noted that the competition for tenants is just about to get tougher for year by year it does since offices also get better and better. Developers can no longer afford to put something up that is not nice, or not competitive enough. The quality of an office building should opt for a higher level, which happens to be very good for the city and the general public in the long run.
“Most organizations recognize that employees are the most expensive asset they have,” an office space consultant was quoted saying. “Given the high costs that go into training and recruitment, anything you can do to make employees comfortable and demonstrate that they’re of value to you enhances the investment you’ve made up front in your people.”
Posted on: Workspace
Related articles
Recent Posts
- Getting Organized
- Taking Care of your Office Wood Table or Cabinet Storage
- On Choosing the Right Storage
- The Myths and Facts of Sitting Up Straight
- Companies Answer Employees’ Demands for a Better Workplace
- The Soft-Environment Office
- Two-in-One Office Furniture: A Desk and a Charger
- The Healthy Way to Sit
- Home Office Lighting Tips
- Choosing Storage Cabinets
News archive
- November 2007 (15)
- October 2007 (63)
- September 2007 (79)
- August 2007 (14)
- July 2007 (27)
- June 2007 (41)
- May 2007 (30)
- April 2007 (17)
- March 2007 (21)
- February 2007 (15)
- January 2007 (21)
- December 2006 (11)
- November 2006 (10)
- October 2006 (10)
- September 2006 (14)
- August 2006 (15)
- July 2006 (23)
- June 2006 (5)