There is great interest in the few buildings that have been, or are in the process of being, built recently. Much of that has to do with the character of new buildings. They tend to have lab space or tech space, communal spaces for collaboration, amenities for eating and exercising, and easy commutes by bike or walking.
Density tends to improve value. That's interesting, considering the pandemic, because it used to be that people wanted to work in buildings with wooded spaces around, and ample parking, near highway exits. Now it seems as though just the opposite approach is warranted.
Maybe that's not counterintuitive. Maybe the drive toward more outdoor space at home, combined with flexible work options for telecommuting, means that people are choosing to spend their time outside near home, with work being for interacting with others, having restaurants and stores nearby, and socializing on days in the office. While that's a big shift, it's consistent with the way we work today: We go into an office to be with people, and, when we don't want or need that, we retreat into our homes and yards.
That means that center cities, and advanced office spaces, will do well in the future. Given what some pundits have been saying about the end of offices, that's good news for those of us in the industry!
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