As more millennials enter the workforce, their impact on commercial real estate is becoming more prevalent.
According to an article by Forbes, nearly 75% of the workforce will consist of Millennials by 2025. Here are some things to keep in mind if you’re looking to attract this growing sector of the population in the upcoming years.
Space Design and Layout
The days of private offices for all are quickly disappearing as more Millennials enter the workforce. These young people are looking for open layouts that allow them to clearly see and talk to one another and collaborate on a constant basis. Instead of putting private offices and meeting rooms on the outside walls, new design trends have shifted these to the core of the space, allowing the natural light and views to flow into the open work areas.
Offering common area gathering places both in tenant suites and in building lobbies is also a popular trend brought about largely by this new generation’s arrival in the professional world. These types of spaces allow associates the opportunity to collaborate or meet outside the traditional meeting room environment, fostering a relaxed atmosphere and creativity.
Location
This is a generation that enjoys urban life and wants everything to be nearby. If your property isn’t within walking distance or a short bike ride of amenities and/or residence options, you may be missing out on tenants that are catering to a millennial workforce. Consider this before purchasing property or choosing a property to lease.
Connectivity
Most millennials want to be connected to the internet 24/7. Offering Wi-Fi connectivity at a property is a major selling point for companies looking for a space to locate their offices.
Online presence
To have a meaningful impact, you need a visually appealing and interactive website. Include videos, tasteful photography, and even virtual reality. You should also consider having an app so you’re just a click away at all times. Having the ability to contact your management team, access statements, and pay invoices online is also important. Your website should look good, but it should also be a resource and a tool for tenants.
Contact the DRK professionals for help finding the right commercial real estate property to meet your needs. We’ll use our knowledge and resources in central Ohio to help you achieve your commercial real estate occupancy and investment goals!
