Cresa Toronto Managing Principal, Jamie Grossman participated in a panel discussion on the future of the office market in Toronto, hosted by Bisnow. What are the trends in the office market? Here is an overview of the key points discussed:
1. Amenities are important. This is true not just for Landlords to attract tenants, but for companies to attract talent. So, landlords and developers (and sometimes tenants) are constantly trying to raise the bar on their amenity offering. A big focus - amenities that create a sense of community.
2. It's not just about open or closed work spaces; it's also about the ability to work from anywhere. We're more connected to technology than ever, and flexibility in working styles and hours is key. So how do you make the office experience more similar to the 'work from home/coffee shop' experience?
3. Coworking isn't going anywhere...but, in a downturn, will this area be hit the hardest? Has it run prices up to high to sustain?
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